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Daily Market Update January 14, 2020

Early Morning Update

The Feb20 natural gas contract is trading up $0.06 at $2.24.  The Feb20 crude oil contract is up $0.42 at $58.50.



The record played-on yesterday as very warm weather in critical demand zones set the stage for a bland day of gas trading at Henry Hub. Once again, most of the market movement was focused on the short-term, as the prompt month closed at $2.182/MMBtu, down only two cents from last Friday. Strip pricing for the balance of 2020, as well as calendar pricing for 2021-2023 stayed put, closing at $2.31, $2.44, $2.43, and $2.47, respectively. The natural gas market is now presenting participants with more questions than answers, as temperatures are expected to turn much colder starting this weekend. Producers, consumers, and traders are wondering whether or not the mid-winter cold will be enough to cause prices to rally, or will it be too little, too late. Further, speculations regarding post-winter production shut-ins have made their way into the conversations of both buyers and sellers.

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