February 27, 2024 Market Update

NYMEX Natural Gas Futures Contract  With the rollover to March Settlement, we are not looking for Winter 24 futures anymore. Summer 24 settled at $2.209 USD/M which decreased by $0.027 USD/M from yesterday.

Market Fundamentals: In terms of weather, we are looking at a cold snap coming up in March for a short period of time, just like in January when the prices spiked up for a short period of time. Also, based on an external report, because of the lower gas prices, there have been producers that began cutting off their production in their oil rigs. The impacts on this can have an effect six to 9 months in the future. (KJ). 

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