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Natural gas gains 2 cents

Posted on: October 18, 2017

The EIA Short-Term Energy Outlook (STEO) for September predicted a drop in the average price of natural gas to $3.03 and $3.19 for 2017 and 2018, respectively. This contrasts last month's STEO figures of $3.05 and $3.29. Warmth in the Midwest for the 27-31 weather model (source: The Weather Company) will not support further demand stimulation in addition to normal temperatures in the lower 48 states.

Amid this bearish news NG prompt futures managed to settle 2 cents higher at $2.96 on the expectations for a lower inventory draw of 53-Bcf versus the typical 78-Bcf according to BNEF.

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Most Recent Market Updates

October 18, 2017

Natural gas gains 2 cents

The EIA Short-Term Energy Outlook (STEO) for September predicted a drop in the average price of natural gas.

October 18, 2017

Crude marginal $0.01 gain

WTI prompt contracts only netted out $0.01 for the day and settled at $51.88.

October 16, 2017

Natural gas marginal 1 cent gain

NYMEX NG prices had an immaterial trading day and settled at $3.00 on Friday.

October 16, 2017

Crude pushed $0.85 higher

Thursday's EIA 2.75 million barrel stockpile draw resonated more with market participants on Friday.

October 16, 2017

CAD and MXN stumble as US talks tough on NAFTA

Fairly eventful weekend with lots of Central Bank chatter and NAFTA headlines to digest.

October 13, 2017

Natural gas gains 10 cents

The 10 cent upswing in NG prompt contracts to settle at $2.99 was a bit mystifying for a few reasons.

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