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Daily Market Update February 18, 2022

Early Morning Update

The Mar ‘22 natural gas contract is trading up $0.13 at $4.61.  The Mar ‘22 crude oil contract is down $1.99 at $89.77.

Summary

The roller coaster continues as the NYMEX prompt month dropped $.231 to close the day at $4.486.  Weather forecasts have changed considerably since last Friday.  Where last week, forecasts called for above average temps through the end of the month, we’re now seeing forecasts for cold temps through the first week of March.  Demand is volatile as well as Feb heating demand looked set to moderate but is now expected to pick up and maybe surpass recent years as cold temps set in.  On the other side, power burn demand has been down as wind generation has been strong, offsetting demand for natural gas-fired generators.  Index prices for gas and power have moderated from their highest levels this winter but the potential for high prices still exists considering that weather forecast are cold.  We are not out of winter yet, as much as we might be ready to be.

 

Market Update 02 18 2022

Market Settles 02 17 2022

 

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