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

Daily Market Update March 07, 2022

Early Morning Update

The Apr ‘22 natural gas contract is trading down $0.05 at $4.97.  The Apr ‘22 crude oil contract is up $1.82 at $117.50.

Summary

Over the weekend, total demand had a drop-off to 102 Bcf/d. The drop in demand was driven mainly by the Northeast region, as  warmer temperatures returned to the area, as well as the Midcon region having less demand than expected. The decline was partially balanced by the southern and western regions having a slight demand increase. However, demand is expected to jump up today to around 106 Bcf/d. The demand sectors showing the largest increases are power burn and residential/commercial. Production is expected to stay around the 94 Bcf/d mark for the beginning of this week. In addition, both imports and exports are expected to hold near the levels they did last week at 5.4 and 5.7 Bcf/d, respectively. The gas market experienced continued volatility last week while dealing with colder-than-average temperatures in a large portion of the United States. The prompt month saw swings in pricing from $4.40 last Monday to opening today at over $5.00. The largest driver of the volatility is still weather, with extended cold temperatures heading into March. Currently, there is a large cold-front in the Midcon region, and it is expected to move slowly eastward across the country over the next week.

 

Market Update 03 07 2022

Market Settles 03 04 2022

 

44.200.174.97