February 6, 2024 Market Update

[4:32 PM] Kourosh Jam

NYMEX Natural Gas Futures Contract  Winter 24, only the March contract now, settled at $2.002 USD/M which is an decrease of $0.078 USD/M.  Summer 24 settled at $2.318 USD/M which decreased by $0.058 USD/M from yesterday.

[4:13 PM] Kourosh Jam

Canadian natural gas production was stable with the weekend nominations as supply stayed steady at 18.6 Bcf/d. Canadian gas exports on the other hand was also steady near 6 Bcf/d today in contrast to last week with exports being 6.32 Bcf/d which means the flow decreased by 0.4 Bcf/d versus last week. Switching over to the weather, The Canadian weather outlook shifts warmer today with a cumulative gain of +8F with a warmer look in Eastern Canada. Ontario’s temperature rose +4F and Quebec a cumulative +5.5F.  

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