January 31 – 24 Market Update

[4:32 PM] Kourosh Jam

NYMEX Natural Gas Futures Contract  Winter 24 contract settled at $2.114 USD/M which is an increase of $0.018 USD/M. Summer 24 settled at $2.459 USD/M which increased by $0.015 USD/M from yesterday.

Market Fundamentals: Canadian natural gas production was stable as the January 29 nominations held at >18.5F Bcf/d. Canadian gas exports on the other hand have settled at 6.74 Bcf/d last night but have slightly decreased today with a 0.38 Bcf/d drop to 6.37 Bcf/d to the United States. Switching over to the weather, Canadian temperatures warmed up a total of +5F this morning, making a second day with a warmer look as the temperature holds above 25F into mid-Feb. In the East, temperatures were warmer for both Ontario and Quebec as they lifted by +8F and +1F respectively. (KJ)

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