Ron

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

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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

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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

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April 1 2024 Market Update

NYMEX Natural Gas Futures Contract: The summer strip is trading $2.33 US/mm and winter 24/25 strip is $3.43 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. Therefore, producers in Texas are paying to supply their gas. There isn’t

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March 28 2024 Market Update

Happy Long Weekend The long weekend and the end of month means that most traders have closed their books for March and don’t want to trade. Therefore, markets are a bit thin and sensitive to any news. EIA storage report came out today 36bcf withdrawal, larger than the expected 28 withdrawal. NYMEX rallied on the

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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

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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

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March 25 2024 Market Update

Happy Monday. This early morning began with the front month (May) trading down to $1.76 US/mm (March 14 low) from the 1.80’s last week and then bounced right back up by 11 am. Currently around $1.795 US/mm level. The summer strip is trading $2.16 US/mm and winter 24/25 strip is $3.34. US/mm. (With April expiry

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March 22 2024 Market Update

Finally got some winter weather here in Ontario but that isn’t changing the bearish fundamentals. You might have seen a jump in price on the chart of the continuous contract, but that is not because of the snow outside but rather the front month has rolled from April to May. Happens this time every month.

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