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

Daily Market Update October 13, 2021

Early Morning Update

he Nov ‘21 natural gas contract is trading down $0.03 at $5.47.  The Nov ‘21 crude oil contract is down $0.74 at $79.90.


he NYMEX natural gas futures price for November jumped 16 cents on the day on Tuesday to settle at $5.505/MMBtu, while winter is, once again, below the $6/MMBtu technical level. Winter weather forecasts have begun to be released, with a few early releases showing a La Nina pattern, which would mean colder temperatures for the Northeast, a major demand center for natural gas in the U.S. Direct Energy’s preliminary winter weather outlook is expected within the next week, although it is still fairly early to have a lot of confidence in these forecasts. The Cove Point LNG export facility in Maryland has returned to service after being offline due to maintenance for the last three weeks. Global pricing for LNG remains bullish, as storage is still a concern and demand remains high. After seeing a slightly recovery to U.S. dry production since Hurricane Ida, it has dipped once again, averaging just under 90 Bcf/d over the past couple of days. For the time being, though, supply is outpacing demand, with milder temperatures during the shoulder season. Tomorrow, the EIA is expected to report another healthy injection into storage of around 87 Bcf. This would be higher than the five-year average benchmark of 79 Bcf, chipping away at the large deficit in storage to 176 Bcf. Hopefully, this trend will continue with mild temperatures on the horizon for the rest of October.


Market Update 10 13 2021

Market Settles 10 12 2021


To subscribe to Daily Market updates please visit