Natural Gas Market Update

May NYMEX rallied today after the EIA storage report showed a slightly less than expected injection (+50 bcf actual vs +53 bcf expected).  However, the market sold off in the afternoon. Looking longer term, the chart of the NYMEX front month natural gas trading in a range since February.  NOAA 8-14 day forecast is looking […]

What happened yesterday was a pipeline fire in Alberta.  The short story is that the problem is resolved: the fire is out, the gas re-routed, issue contained, and most importantly nobody was hurt. The narrative has returned to warm weather, abundant supply, and low demand for the near future. Today, the May NYMEX contract sold

Calm quiet day with May futures trading down to new low $1.65 US/mm…   until 2pm when mkt spiked up to $1.80 on volume. Then it bounced up and down from there. Why you ask?  Well, that is what everyone has been asking.  In the absence of concrete news, there has been lots of speculation.  (In fact,

Quite the start to the week.  The May front month NYMEX contract traded down to a low of $1.68 US/mm on news that Financial Firm LSEG forecast gas demand in the Lower 48, including exports, would fall from 99.3 bcfd last week to 92.4 bcfd this week. Remember that last week, this contract traded at a

EIA storage numbers were almost double forecasted:  The consensus expected an injection of 14bcf and instead the EIA announced an actual injection of 24bcf.  The NOAA 6-10 day forecast is for above average temperatures in the northeast and southeast, so not much heating demand. Not a surprise that the NYMEX front month contract, which hit

The NYMEX May 2024 prompt month rallied up to a high today of 1.924US/mm, a one month high.  The Summer and Winter Strips are both up 2 cents. According to a Barchart story, Lower 48 dry gas production was 98.5bcf/d on Tuesday, which is below the average in March.  With prices at these low levels,

Summer 2024 Strip is trading $2.31 US/mm on NYMEX and the Winter 24-25 Strip is trading $3.39, with is basically flat for the last week. NOAA Forecast indicated that temperatures will be above seasonal averages for the near future. At this time of year in Ontario, that would mean a reduced the demand for Natural

Quiet day on NYMEX with natural gas basically unchanged. Summer Strip is at $2.31 US/mm and the Winter Strip is at $3.39 US/mm. Have a great weekend [WFG]

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

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