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Daily Market Update October 15, 2021

Early Morning Update

he Nov ‘21 natural gas contract is trading down $0.11 at $5.57.  The Nov ‘21 crude oil contract is up $0.84 at $82.15.

Summary

nother volatile day on the NYMEX as the prompt month contract finished up $.097 to close the day at $5.687.  The ‘modest’ increase belies the volatility as the market traded all the way up to $5.964 before falling before the close.  Despite all the noise at the front of the curve, the prompt month has settled into somewhat of a range recently, which seems to be $5.50 - $6.00.  The run-up was partly caused by the somewhat disappointing storage report.  The EIA reported a build of just 81 Bcf, below expectations.Looking ahead, weather forecasts are still favorable, showing mild temps along the east coast, but cooler temps on the west coast.  Direct Energy anticipates releasing its winter weather outlook today.  Please contact your representative for more info regarding our outlook.

 

Market Update 10 15 2021

Market Settles 10 14 2021

 

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