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

Daily Market Update June 29, 2022

Early Morning Update

The Aug ‘22 natural gas contract is trading up $0.15 at $6.72.  The Aug ‘22 crude oil contract is up $1.54 at $113.30.

Summary

Yesterday saw little day-over-day change for natural gas, despite a nearly 40-cent trading range for the prompt month on its settlement day, as the July 2022 contract ultimately closed at $6.551/MMBtu for the month, representing a climb of five cents from Monday’s close. The more interesting stat is the $2.26 drop that July saw during it’s time as the prompt month from its initial opening price at $8.81/MMBtu on May 27th. The rest of the near-term forward curve moved in a similar manner to July, with a wide trading range through early 2023, but with the balance of 2022 moving up just 2.6 cents and the 12-month strip climbing just 1.7 cents. There was slight movement to the downside for all forward months beyond March 2023, with the calendar strip for 2023 showing no day-over-day change, 2024 showing a two-cent drop, and then a three-cent drop on every year from 2025 through 2034. The backwardation stretches out to 2027, with the low price on the board at $4.42, which represents a 77-cent discount to the near-term 2023 calendar strip. On the natural gas demand side of the supply/demand balance, power burn demand has eased over the past seven days, likely on the milder temperatures this week.

 

Market Update 06 29 2022

Market Settles 06 28 2022

 

To subscribe to Daily Market updates please visit nrg.com

18.232.179.5