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

Daily Market Update May 28, 2021

Early Morning Update

The Jul ‘21 natural gas contract is trading up $0.06 at $3.02. The Jul ‘21 crude oil contract is up $0.45 at $67.30.


Happy Friday, everyone! We hope you all get to enjoy a long weekend as the Direct Energy team will also be taking a break from Memorial Day's update next week. Yesterday saw the debut of the July ‘21 contract as the new prompt month, and it kicked off its start with a downward movement, but remained in the previously covered $2.90-$3.00 range. While the morning started out with a moderate change of about a -$0.02, the change was accelerated by the EIA's natural gas storage report. The build came in 8 Bcf above predictions and landed at a relatively high 115 Bcf, when comparing to the 91 Bcf 5-year average injection. This narrowed the deficit that has been plaguing natural gas pricing, which has remained elevated through Q1 of 2022. Along with this short-term softening of the market due to the above-average injection, the market has also seen a slight decrease in power burn demand as cooler weather takes hold. LNG feedgas demand, however, has strengthened and offset the cold weather changes, while year-over-year total supply has decreased by 1.0 Bcf. Though we are moving into a holiday weekend, the market continues to watch upcoming weather patterns, storage levels, and production levels as indications as to where prices may go.


Market Update 05 28 2021

Market Settles 05 27 2021


To subscribe to Daily Market updates please visit