January 4- 24 Market Update

NYMEX Natural Gas Futures Contract Winter 24 contract settled at $2.71 USD/M which is an increase of $0.161 USD/M. Summer 24 settled at $2.75 USD/M which increased by $0.091 USD/M from yesterdays settlements.

Market Fundamentals – In Canada, gas production declined by 0.12 BCF/d shifting volume down to 18.6 BCF/d. In contrast to yesterday, Eastern Canada shifted slightly cooler as well within Ontario and Quebec which will start driving the demand higher in Canada. Canada gas exports to USA also trend higher today to 7.5 BCF/d as all the states in the United States except Alaska and Hawaii experienced colder temperatures and reduced production levels. Bundle up! (KJ)

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