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

Daily Market Update July 15, 2022

Early Morning Update

The Aug ‘22 natural gas contract is trading down $0.06 at $6.54.  The Aug ‘22 crude oil contract is up $2.65 at $98.43.

Summary

Another day of volatility as the prompt month trades in a wide range, from a high of $6.898 and a low of $6.537, before ultimately settling at $6.60, down $0.089 on the day.  The EIA reported a build of 58 Bcf, in-line with expectations.  The supply/demand balance remains very tight as production growth is yet to materialize and demand is very high as heat blankets the country and power burns are still elevated.  We’re seeing record setting demand in ERCOT as temps soar and forecasts show no relief for the heat dome which is parked over most of the country.  The pattern appears to be in place through at the end of July so we can expect high demand, high index pricing and a tight market.

 

Market Update 07 15 2022

Market Settles 07 14 2022

 

3.236.225.157