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Daily Market Update October 14, 2022

Early Morning Update

The Nov ‘22 natural gas contract is trading down $0.10 at $6.65.  The Nov ‘22 crude oil contract is down $1.15 at $87.96.


Please Note: Your Daily Market Updates will soon be delivered to you by NRG.  The same great information with a fresh, new look!The front of the curve saw a large rally yesterday as the prompt month finished higher by $0.306 to close at $6.741.  The market started to tick up after the EIA released its weekly storage report, showing a build into storage of 125 Bcf.  Many analysts had forecast a build in that range so it was a bit surprising to see the market rally on the news.  But we are starting to forecast a greater amount of heating demand as cooler-than-average temps are moving into the east coast over the next week.  Supply has been steady over the past week at around 97 Bcf/d but greater demand could tighten the supply/demand balance.  As it stands now, the end/summer storage forecast is near 3.55 Tcf, a healthier amount than was forecast even a month ago.  A cold start to winter is never a good thing for low prices so the market is on edge about that possibility.


Market Update 10 14 2022

Market Settles 10 13 2022


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