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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

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

Crude prices slide $0.19

Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

Natural gas loses 5 cents

Cold weather emerged over the long weekend in the US Midwest to East as anticipated.

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