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Daily Market Update August 19, 2021

Early Morning Update

The Sep ‘21 natural gas contract is trading down $0.07 at $3.78. The Sep ‘21 crude oil contract is down $2.06 at $63.40.


The NYMEX natural gas prompt month contract settled at $3.852/MMBtu yesterday, up a penny and a half from the previous day. Similar movement was felt in the 12-mo strip as that also crept up over a penny, as did Cal '22. The outer calendar strips beyond 2023 remained relatively flat day-over-day. Eyes continue to be on Tropical Storm Henri, which is making its way up alongside the East Coast this week, currently sitting about 525 miles southeast of Cape Hatteras, NC, with sustained winds of 70 mph as of this morning. Forecasts show Henri reaching the New England area by early next week, but the weather models are not sure whether Henri will navigate closer to the coast, or bear east and avoid making landfall at all. We also continue to track Hurricane Grace, which made landfall near Tulum, Mexico early this morning and is expected to move west throughout the day and eventually make landfall as a hurricane over the southwestern Gulf Coast of Mexico. Weather models show no Texas impacts from Grace, other than some slightly higher surf. Luckily, it's not looking like the Gulf's oil/gas production will be impacted by Hurricane Grace. Total U.S. dry production bounced back to 91.3 Bcf/d today, up 0.9 Bcf/d from yesterday.


Market Update 08 19 2021

Market Settles 08 18 2021


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