Natural Gas Market Update

March 13 2024 Market Update

NYMEX Natural Gas Futures Contract  The NYMEX Summer 24 settled at $2.204 USD/mmBtu and the Winter 25 strip is at $3.380 USD/mmBtu. Market Fundamentals: In Canada, domestic gas production has been stable at 18.3-18.4 Bcf/d this week but rose a little from the prior week. Domestic exports to the U.S. has decreased today with a […]

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March 12 2024 Market Update

[4:15 PM] Kourosh Jam NYMEX Natural Gas Futures Contract  The NYMEX Summer 24 settled at $2.22 USD/mmBtu and the Winter 25 strip is at $3.36 USD/mmBtu. Market Fundamentals: Based on the forecast, March is going to continue warming up and demand will be dropping simultaneously. The demand doesn’t seem like it will be increasing anytime

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March 8, 2024 Market Update

The NYMEX Summer 24 strip at $2.28 US/mmBtu and Winter 24-25 strip at $3.39 US/mmBtu are little changed from yesterday. The 6-10 day forecast is still predicting above average temperatures. Yesterdays 40Bcf draw from storage was half of last weeks 96Bcf draw, but it was inline with consensus. Have a great weekend.

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March 7, 2024 Market Update

Winter is basically over as March is still warming and heating demand is falling.  The US National Weather Service is calling for warmer than normal temperatures in the 6-10 day forecast but returning to more nominal temperatures in the middle of the US in the 8-14 day forecast.  Ontario looks to be still a bit

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March 6, 2024 Market Update

NYMEX Natural Gas Futures Contract  Summer 24 trading is upon us. Summer 23 settled at $2.38 USD/Mmbtu, down $0.03 on the day of active trading. Winter is down as well, trading at 3.45 USD/Mmbtu on the day. Market Fundamentals: Summer and winter spreads are starting to narrow. It appears the market is trying to lift

March 6, 2024 Market Update Read More »

February 29, 2024 Market Update

NYMEX Natural Gas Futures Contract  With the rollover to March Settlement, we are not looking for Winter 24 futures anymore. Summer 24 settled at $ 2.349 USD/mmBtu which increased by $0.140 USD/mmBtu from Tuesday. Market Fundamentals: In terms of weather, their may be a cold snap coming up in March for a short period of

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February 28, 2024 Market Update

NYMEX Natural Gas Futures Contract  With the rollover to March Settlement, we are not looking for Winter 2024 futures anymore. We will only be looking for the Summer 2024 strip which is from April – October 2024.  Based on an external report, we are expecting Liquid Natural Gas (LNG) to grow by a large amount

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February 27, 2024 Market Update

NYMEX Natural Gas Futures Contract  With the rollover to March Settlement, we are not looking for Winter 24 futures anymore. Summer 24 settled at $2.209 USD/M which decreased by $0.027 USD/M from yesterday. Market Fundamentals: In terms of weather, we are looking at a cold snap coming up in March for a short period of

February 27, 2024 Market Update Read More »

February 26, 2024 Market Update

NYMEX Natural Gas Futures Contract  Winter 24, only the March contract now, settled at $1.623 USD/M which is an increase of $0.020 USD/M. Summer 24 settled at $2.236 USD/M which increased by $0.20 USD/M from last Friday. Market Fundamentals: Based on an external report, Henry Hub futures have dropped in price this week to a

February 26, 2024 Market Update Read More »

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