February 12, 2024 Market Update

NYMEX Natural Gas Futures Contract  Winter 24, only the March contract now, settled at $1.743 USD/M which is an decrease of $0.136 USD/M.  Summer 24 settled at $2.166 USD/M which decreased by $0.094 USD/M from last Thursday.

A weekly natural gas report came out last week mentioning that above 130 billion cubic feet per day (Bcf/d) of natural gas was consumed by U.S. lower 48 states from January 14 – 21, 2024. Canadian natural gas production increased with volumes of 0.19 Bcf/d on Friday/Saturday to 18.64 Bcf/d. Domestic gas exports to the US increased to 4.98 Bcf/d which rose from last Friday at 4.5 Bcf/d. Switching over to the weather, Canada’s weather guidance showed limited changes including a drop om temperature early next week before rising later in the month. 

Scroll to Top