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Daily Market Update March 25, 2022

Early Morning Update

The Apr ‘22 natural gas contract is up $.12 to yesterday’s close at $5.52. The May ‘22 crude oil contract is down $2.74 at $109.60.

Summary

Despite the fact the North American continent is moving towards spring weather and overall warmer temperatures, we are seeing a bit of forecasted cold in the market for the next week covering sections of the eastern half of the US. The unfortunate impact is a bit of a shift in the forecasted demand of natural gas in the United States creating higher demand right around the time period that the market was expecting to shift from withdrawal to injection season. Speaking of, the EIA did announce the storage report yesterday as a 51Bcf withdrawal when estimates were approximately 60Bcf. While this would be a bearish fundamental, the market seemed more concerned with the upcoming reports and how that will impact storage levels.

 

Market Update 03 25 2022

Market Settles 03 24 2022

 

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