January 22 – 24 Market Update

NYMEX Natural Gas Futures Contract  Winter 24 contract settled at $2.276USD/M which is an decrease of $0.279 USD/M. Summer 24 settled at $2.454 USD/M which increased by $0.216 USD/M from Thursday.

Market Fundamentals: Canadian gas exports to the United States hit a Winter 2023/24 peak of nearly 9 Bcf/d last week and it is still relatively high. The average flow from Saturday-Monday are at 8.51 Bcf/d which has also increased from last weeks average of 8.44 Bcf/d. The overall domestic average lifted >47F taking the temperature back into the 30-35F range after last weeks cold and in the East, Ontario went up a cumulative of +51F and Ontario +58F. (KJ).

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