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Daily Market Update February 14, 2022

Early Morning Update

The Mar ‘22 natural gas contract is trading up $0.12 at $4.06.  The Mar ‘22 crude oil contract is down $0.60 at $92.50.

Summary

As the U.S. wakes up from last night’s thrilling Super Bowl game between the Rams and the Bengals, they’ll be greeted by a busy weekend of news.First being the ratcheted warnings coming from the U.S. and UK on Russia’s intentions on invading Ukraine.European equity markets are down 3% in today’s trading, with U.S. futures markets following the same trend on the potential impacts of increased sanctions against Russia and deepening concerns of a larger conflict. Energy markets have reacted to the news, with Brent crude pushing to its highest price since September 2014 at $96/barrel and some analysts betting prices will hit $100/barrel later this week.In the mainland U.S., temperatures are flip-flopping between the coasts from last week.The eastern U.S. is expecting a nice warmup with temperatures pushing into the 50s-60s by Thursday, and the West Coast, after hitting record highs late last week, is looking at temperatures 20 degrees cooler this week.These up and down temps will have a greater impact on daily prices rather than long-term strips, but we did see some interesting NYMEX price movement last week, with Cal 2023 settling on Friday at $3.63/MMtbu, down 15 cents week-over-week, but longer terms moved slightly higher, with Cal 2026 being the cheapest at $3.125, up a nickel over the past week.

 

Market Update 02 14 2022

Market Settles 02 11 2022

 

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