April 3 2024 Market Update

NYMEX Natural Gas Futures Contract: The summer strip is trading $2.312 US/mm and winter 24/25 strip is $3.392 US/mm. 

Market Fundamentals: Natural gas production has declined by 0.2 Bcf/d with volumes averaging around 18.1 Bcf/d in Canada. In terms of Canadian exports to the US, there was an increase of 0.38 Bcf/d which increased exports to 5.44 Bcf/d. The weather forecast has been slightly cooler today but is looking to warm up starting next week and temperatures in Ontario was cooler overnight and forecasted to decline in the 6-10 day period.

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