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

Daily Market Update September 5, 2019

Early Morning Update

The Oct19 natural gas contract is trading down $0.02 at $2.43.  The Oct19 crude oil contract is up $0.39 at $56.65.

 

Summary

The NYMEX natural gas prompt month contract continued to strengthen yesterday, closing out at $2.445/MMBtu, an 8.7 cent gain from the previous trading day. The 2020 calendar strip also strengthened, gaining two cents, while future calendar strips through 2026 all lost roughly two cents. Short-term weather forecasts project above-average temperatures to continue to plague the western portion of the U.S. as well as the South, especially Texas, over the next five days, while the Northeast will experience more fall-like conditions with below-average temperatures. Those mild temperatures in the Northeast are short-lived, though, as the 11-20 day forecast projects broad warmth across the U.S., with almost the entire country forecast to be 3 to 5 degrees above normal. The continued strength in the prompt month contract could be attributed to the unrelenting heat. The U.S. Energy Information Administration will release their weekly storage data today for the week to August 30. Market estimates range widely, with Bentek projecting a 73 Bcf injection in their Supply/Demand Report, yet estimating a 92 Bcf build in their Storage Analytics Report.

 

Market Update090519

Market Settles 090419

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...

3.227.233.55