January 17 – 24 Market Update

NYMEX Natural Gas Futures Contract  Winter 24 contract settled at $2.677 USD/M which is an decrease of $0.163 USD/M. Summer 24 settled at $2.712 USD/M which increased by $0.042 USD/M from yesterday.

Market Fundamentals: Canadian gas exports to the United States hit a Winter 2023/24 peak of 8.93 Bcf/d yesterday before dropping to 8.64 Bcf/d as of today which is a decrease of 0.29 Bcf/d. The weather outlook for the East of Canada looks much warmer also especially in Ontario lifting nearly 20F higher across the forecast. (KJ).

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