End of Day Market Commentary – June 18, 2018
The prompt Henry Hub natural gas contract settled at $2.951 yesterday, a move down of $0.071 (2.35%) from prior day’s settle of $3.022. The 1 Yr market structure changed to a 0.257 backwardation verse a prior day backwardation of 0.32. Henry Hub natural gas total market volume for the day was 421,707 contracts traded. A decline of 70,321 contracts (14.29%) verse the previous day volume of 492,028 contracts. Overall market interest in Henry Hub natural gas market was up at 1,532,139 open contracts from 1,515,795.
The prompt WTI crude oil contract settled at $65.85 yesterday, a move up of $0.79 (1.21%) from prior day’s settle of $65.06. The 1 Yr market structure changed to a 3.64 backwardation verse a prior day backwardation of 3.52. WTI crude oil total market volume for the day was 1,150,919 contracts traded. A decline of 282,255 contracts (19.69%) verse the previous day volume of 1,433,174 contracts. Overall market interest in WTI crude oil market was down at 2,536,446 open contracts from 2,548,286.
The Brent crude oil contract settled at $75.34 yesterday, a move up of $1.9 (2.59%) from prior day’s settle of $73.44. The 1 Yr market structure changed to a 3.98 backwardation verse a prior day backwardation of 3.61. Brent crude oil total market volume for the day was 90,459 contracts traded. An improvement of 1,429 contracts (1.61%) verse the previous day volume of 89,030 contracts. Overall market interest in Brent crude oil market was down at 212,831 open contracts from 213,188.
The prompt RBOB gasoline contract settled at $2.055 yesterday, a move up of $0.031 (1.55%) from prior day’s settle of $2.023. The 1 Yr market structure changed to a 0.027 backwardation verse a prior day backwardation of 0.031. RBOB gasoline total market volume for the day was 152,190 contracts traded. A decline of 5,743 contracts (3.64%) verse the previous day volume of 157,933 contracts. Overall market interest in RBOB gasoline market was down at 466,613 open contracts from 471,530.
The prompt PJM West electricity contract settled at $39.61 yesterday, a move down of $1.62 (3.93%) from prior day’s settle of $41.23. The 1 Yr market structure changed to a 1.58 backwardation verse a prior day backwardation of 2.89. PJM West electricity total market volume for the day was contracts traded. Volume is unchanged from yesterday. Overall market interest in PJM West electricity market was down at 1,100 open contracts from 1,780.
The prompt Mt. Belvieu (LST) propane contract settled at $0.863 yesterday, a move up of $0.005 (0.53%) from prior day’s settle of $0.858. The 1 Yr market structure changed to a 0.123 backwardation verse a prior day backwardation of 0.127. Mt. Belvieu (LST) propane total market volume for the day was 3,128 contracts traded. A decline of 807 contracts (20.51%) verse the previous day volume of 3,935 contracts. Overall market interest in Mt. Belvieu (LST) propane market was down at 108,313 open contracts from 108,586.