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Daily Market Update February 14, 2020

Early Morning Update

The Mar20 natural gas contract is trading up $0.01 at $1.83.  The Mar20 crude oil contract is up $0.62 at $52.04.

Summary

A larger-than-expected draw from storage and the market…  fell $.018, to close the day at $1.826.  Despite the larger draw, the market remains focused on upcoming weather forecasts, which are still not calling for any extreme cold temperatures.  Some ’normal’ temperatures patterns have crept into the near-term forecasts, but they are generally brief, then above average temps come back. 

Despite the mild temps along the east coast and generally low heating-related demand for NG, Texas pricing has crept up and seen some volatility as unit outages and ramping issues have caused a few price spikes recently.  Due to general concerns about this upcoming summer, these price spikes have caused summer pricing to move up slightly in response.  Otherwise, index markets and most regional markets have been fairly quiet this winter. 

Market Update021420

Market Settles 021320

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