March 26 2024 Market Update

NYMEX Natural Gas Futures Contract  The NYMEX Summer 24 settled at $2.16 USD/mmBtu and the Winter 25 strip is at $3.36 USD/mmBtu.

Market Fundamentals: Natural gas production has been steady domestically with volumes averaging around 18.3 Bcf/d. In terms of Canadian exports to the US, there was a decrease this morning with a drop of 0.13 Bcf/d falling to 4.19 Bcf/d. The weather forecast has been slightly warmer today and looking to rise above 4.4°C in the 11 – 15 day range in Canada, as well as temperatures rising in both Ontario and Quebec. 

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