January 23 – 24 Market Update

NYMEX Natural Gas Futures Contract  Winter 24 contract settled at $2.329USD/M which is an increase of $0.053 USD/M. Summer 24 settled at $2.521 USD/M which increased by $0.067 USD/M from yesterday.

Market Fundamentals: Canadian gas production increased higher again with this weekend nominations as Sunday’s flows gained +0.27 Bcf/d leading to a production of 18.09 Bcf/d. In terms of exports, Domestic gas exports has substantially dropped by 1.67 Bcf/d today to a production of 6.46 Bcf/d. In terms of weather, the demand expectations are limited as temperatures are forecasted to be warmer and we are looking at a warmer first week of February. (KJ)

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