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

Daily Market Update May 06, 2022

Early Morning Update

The Jun ‘22 natural gas contract is flat at $8.78.  The Jun ‘22 crude oil contract is up $2.04 at $110.30.


The natural gas market has not cooled down this week. Continued volatility fueled by a tight supply and demand balance have pushed the market quickly upwards. Yesterday's prompt month for NYMEX had a sizeable trading range, extending over 70 cents per MMBtu. Even the January 2023 contract had touched above 9 dollars. Surprisingly, the market did see good information released by the EIA regarding the storage report as the actual injection of 77Bcf outperformed the 64Bcf estimate. Not only did this surpass the current forecast, but outpaced last year's levels which only hit 53Bcf. One major factor impacting the market from a production side is the current shortage of fracking sand, making natural gas production subject to other markets fundamentals. Other changes in the midcontinent through east coast may be experienced as the Mountain Valley Pipeline has been reapproved. This may have impacts on local basis pricing as gas on gas competition increases and regional power as gas prices also move.


Market Update 05 06 2022

Market Settles 05 05 2022


To subscribe to Daily Market updates please visit