March 27 2024 Market Update

NYMEX Natural Gas Futures Contract: The summer strip is trading $2.26 US/mm and winter 24/25 strip is $3.34 US/mm. (With April expiry this week, the rest of summer strip is trading $2.21 US/mm)

Market Fundamentals: Natural gas production has declined by 0.19 Bcf/d with volumes averaging around 18.11 Bcf/d in Canada. In terms of Canadian exports to the US, there was an increase of 0.15 Bcf/d rising to 4.42 Bcf/d. The weather forecast has been slightly warmer today in Canada and temperatures are forecasted to rise in both Ontario and Quebec within the 6-10 day range. 

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