January 16 – 24 Market Update

NYMEX Natural Gas Futures Contract– Feb 24 Contract traded lower today closing down $0.08 USD/Mmbtu to $2.84 USD/Mmbtu. Summer months were off $0.08 closing at $2.67 for the day.

Market Fundamentals: The 10 -14 day weather outlook notes above average temperatures next week, causing the markets to soften today. Freeze offs did curtail production by 100 BCF/D forcing local mid West and western markets to remain volatile. Alberta export supply was affected by pipeline outages both to the East and California. (RS)

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