April 2 2024 Market Update

NYMEX Natural Gas Futures Contract: The summer strip is trading $2.33 US/mm and winter 24/25 strip is $3.41 US/mm. 

Market Fundamentals: Natural gas production has declined by 0.1 Bcf/d with volumes averaging around 18.3 Bcf/d in Canada. In terms of Canadian exports to the US, there was an decrease of 0.31 Bcf/d which dropped exports to 5.01 Bcf/d. The weather forecast has been slightly warmer today in Canada and temperatures in Ontario was cooler overnight and forecasted to decline in the 11-15 day period.

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