January 8- 24 Market Update

NYMEX Natural Gas Futures Contract – Winter 24 contract settled at $2.627 USD/M which is an decrease of $0.121 USD/M. Summer 24 settled at $2.691 USD/M which decreased by $0.129 USD/M from January 5 settlements.

Market Fundamentals – In Canada, gas production increased by 0.27 Bcf/d on Friday & Saturday lifting volumes up to 18.57 Bcf/d. Also, Canadian gas exports to USA is at a rate of 6.77 Bcf/d which is well above prior-year rates. Gas exports could jump even higher next week as a cold shot hit most of the USA and the upcoming cold will drive the demand higher in Canada starting this weekend. Bundle up! (Kj)

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