April 4 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: In Waha Hub which is located in West Texas, for the past 2 weeks we have seen natural gas prices below zero. Waha prices have been below $0.50/MMBtu since February but things will pick up positively for the producers in Texas. In Mexico, the demand for natural gas is extremely high during the summer. Also, a new greenfield pipeline named Matterhorn express that will transports gas from Waha to Houston will allow producers in Waha to increase production. (KJ). 

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