Direct Energy Business
Market Data For Your Home Contact Us
Market Updates

Daily Market Update May 29, 2019

Early Morning Update

The Jun19 natural gas contract is trading up $0.04 at $2.62.  The Jul19 crude oil contract is down $1.74 at $57.40. 

 

Summary

On it’s second-to-last trading day, the Jun19 prompt month settled at $2.582/MMBtu yesterday, after trading in a range of $2.535/MMBtu to $2.613/MMBtu. Averaging just shy of 87 Bcf/d for May, U.S. dry natural gas production showed signs of recovery over the weekend, setting a new record high. According to Bentek, domestic dry natural gas production reached just over 88 Bcf/d on Sunday, May 26. Moreover, May 2019 production has averaged 8% higher than May 2018. On the demand side, total demand (including exports) this month has averaged 7% higher than May 2018. National weather outlooks were revised slightly cooler yesterday. The 6-10 day National Weather Service outlook predicts cooler-than-normal temperatures for the Northeast. The 8-14 day outlook predicts cooler temperatures in both the Great Lakes and Southeast, while the rest of the country is expected to be warmer-than-normal. The June 2019 NYMEX natural gas contract will expire today.

 

Market Update 052919

Market Settles 052819

Set your ZIP code and utility

Enter a valid ZIP code
Unfortunately, we don't currently service this area. Please try another ZIP code.

Loading please wait...

Don't see your utility?

We currently only provide service to the listed utilities. For question, please contact 1-888-925-9115.

Loading...

100.24.122.228