January 11 – 24 Market Update

NYMEX Natural Gas Futures Contract  Winter 24 contract settled at $2.812 USD/M which is an increase of $0.013 USD/M. Summer 24 settled at $2.754 USD/M which decreased by $0.023 USD/M from yesterday.

Market Fundamentals: Domestic gas production dropped 0.14 Bcf/d bringing volumes down to 18.28 Bcf/d as of today. Canadian exports to the US remained below 6 Bcf/d the past two days, but that should change through the weekend as they push higher. Starting next week, we are also expecting high demand as the cold will hit Western Canada and the outlook in Western Canada included a cooler pattern in Alberta with temperatures pivoting lower starting January 18. Bundle up! (Kj)

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