Happy first Friday of December everyone! Hard to believe as Toronto remains a concrete jungle without a speck of white in site. I remember earlier on Monday speaking with someone from Calgary about finally getting some snow and potentially a white Christmas… On the note of weather, small adjustments continue to emerge between runs, with …
The EIA storage number did not have much of an affect on the markets today withi a 59 BCF decrease. Nymex continued to fall settling the day at $4.06 USD/Mmbtu maily influenced by strong production in a weak demand market. In general the Nymex has fallen $1.30 over the 10 days making this an extraordinary …
Nymex markets continue to sell off today, down $0.302 USD/Mmbtu on the close for the January contract. The next resistance level will be $4.25 USD/Mmbtu which is where we closed today. The market is selling off based on two items of interest. Firstly, the winter weather forecast declared a warm, wet, snowy winter with average …
Good afternoon, folks and welcome back to another market update from the team at RiteRate. The January futures contract was down $0.287 US/MMBtu from yesterday after breaking the $4.715 support level. Price action continues to be volatile as the prompt month contract traded in a range of $0.418 US/MMBtu by reaching a high of $4.90 …
The US Thanksgiving must have come up short for Natural Gas traders. Today is the first day of trading the January 2022 contracts and the markets sold of $0.75 CAD/GJ of 11.4% down from the Friday close. Traders are taking the view the weather is not cold enough to warrant the higher than average prices …
Welcome to another Natural Gas Market Update with RiteRate! Time sure flies, as we have reached the last Friday of November. After the American Thanksgiving holiday yesterday, markets resumed full activity as some individuals looked to maximize settlement day for the December 2021 NYMEX contract. For those who are new or may have forgotten, today …
Cold weather forecasts are on the minds of traders. While storage levels are typically their highest at this time of year, we are moving into the winter with 3% less storage than the average of the past five years. Perhaps not a significant amount, although the winter weather will advise that level otherwise. Todays EIA …
December 2022 futures contract continued to trade range bound for most of the day. The start of the day the market traded down for most of the morning. The later half of the day markets rebounded by $0.30 USD/Mmbtu by the end of day – up 5.3 % overall. With the shorter than average trading …
This weeks trading will be limited due to the US Thanksgiving holiday. As a result, trading was off today in anticipation of the short week. Markets are selling off at the start of the week then seem to rebound from Tuesday to Thursday; unsure although this is a pattern we have witnessed over the past …
The market continues to look ahead into the cold dark winter months as to where the price levels will settle. Based on the current LaNina the North East could experience a blast of cold weather through January 2022 then tapering to normal winter conditions thereafter. With the current natural gas production down almost 8% from …