Natural Gas Market Updates

The NYMEX gained 20 cents to close at $3.98 US/mm. The rally is a bit surprising, considering that that temperatures are expected to slowly warm up, and that Freeport LNG is experiencing an outage (feed gas dropped by 13.3 bcf on Tuesday, ultimately leaving more supply available on the market). However, the volume traded today…

Surprisingly quiet day considering everything going on. The NYMEX February front month contract rallied overnight to $3.90 US/mm level at 7am but then gradually sold off to $3.72 level in the afternoon. Last trade $3.76, down 5 US cents/mm. This is down from Friday’s close of $3.91. The expectation for the upcoming storage report is…

Welcome to a new week, the last week of trading the February contract. It’s been a quiet day for the NYMEX with it being Martin Luther King Jr. Day, a Federal Holiday for the States. The February front month contract opened at $3.81 USD/mm, and only drifted up 2 cents. It seems everyone had their…

Happy Friday And what a week.  The NYMEX February front month closed down 34 cents (-8%) to $3.92 US/mm.  Remember that this contract rallied up to $4.32 yesterday afternoon and that this is the 7th or 8th larger than 5% move this month.  I lost count. And Trump has not been sworn in yet. Next Monday is…

Happy Storage Day The storage report came out in line with expectations, a huge withdrawal of -258 Bcf for the week ending January 10, 2025. Immediately after, the February front month contract’s price dipped down to $4 US/mm, but has since continued this week’s rally and closed at $4.31. The 6-10 day temperature outlook is…

The February front month contract has increased 4% to close at $4.13 USD/mm. Although prices opened above the $4 threshold a couple days ago, it’s the first time in a year that the price has closed this high. It’s no secret that January has hit the US and Canada hard with some prolonged cold shots,…

Another volatile day for natural gas. The February front month was down early this morning to $3.74 US/mm before turning around and rallying up to $4.00, a gain of 26 cents. The market settled at $3.93. The consensus among meteorologists is for cold weather through the end of the month, and I wonder if traders…

Quite the start to the week, with the NYMEX Front Month Contract opening at $4.34 US/mm, up 40 cents from Friday, finally breaking above $4 at a price that hasn’t been seen since January 2023. However, the price immediately sold off and hovered around $4.00 until it continued slowly selling off in the afternoon ($3.94…

Happy Friday. Well, it’s cold.  It’s going to be cold.  Everyone thinks it’s going to be cold. Therefore, the market is up. The front month NYMEX February contract was up 25 cents (6.5%) to $3.95US/mm.  This is to be expected since front month reflects near term demand.  We are trading right near the recent highs.…

Another day up. The NYMEX natural gas was calm, but drifted higher throughout the day. The February front month contract ended up 7 cents (1.5%) to $3.72 US/mm. Recent trading has been quite volatile with 9 of the last 10 trading days have seen greater than 5% changes.The summer 2025 strip was up 7 cents to…

Happy Storage Day. The EIA storage report for the week ending January 3rd was released early this week, since tomorrow is the National Day of Mourning for former President Carter in the US. Federal offices will be closed, along with the New York Stock Exchange, but the NYMEX will remain open. Be prepared for some…

The NYMEX February front month contract was down 23 cents (-6.4%) to $3.43 US/mm today. I will be interested if the February contract closes below December 27th’s low of $3.293 (the narrow, isolated candle), since traders might take it as a sign that the next leg will be down. Of course, we could also rally…