Natural Gas Market Updates

Welcome back. It’s been a sluggish day, both in the weather and the market. NYMEX Futures drifted off a few cents, but not much action overall. Canadian temperatures are expected to hover around normal over the next 11-15 days, then break above normal for the first weekend of April. The US is looking warmer than…

Happy Friday The NYMEX April front month contract had a nice sell off to $3.86 US/mm overnight but bounced back up to $4.05 in the morning. This marks the first time in three weeks that it traded below $4.00. The weather is still seasonal and expected to be normal into the beginning of April. Next week’s…

Happy Storage Day Spring is starting with some good news! This morning, the EIA reported that for the week ending March 14th, there was a net INJECTION of gas into storage. That’s right, we have made it through winter and we are beginning injection season. Expectations were for a small withdrawal, but with a wide…

Another quiet day. The story is still unchanged: temperatures are warm, production is at record highs (March is on track to hit a record average output of 105.8 Bcf/d), and same with LNG feed gas demand (March is also on track to hit a record 15.7 Bcf/d of demand). Heating demand is starting to drop…

Quiet day. The NYMEX April front month contract traded down below $4.00 US/mm before bouncing up a dime. Last trade $4.05. The weather is getting warmer and heating demand is falling off. In a normal year, we would see some seasonal low prices with moderate spring weather, but this year isn’t normal.  There isn’t a consensus yet for…

Welcome back to a new week. Hard to believe we are halfway through March. Prices have dipped on the NYMEX; the April front month contract fell about 10 cents to close at $3.99 US/mm. This week is likely to remain volatile as all eyes remain on the US, especially with its ongoing relations with Putin…

Happy Friday A quiet, warm Friday to finish up the week. The NYMEX April contract drifted around today, but ultimately settled up 8 cents at $4.11 US/mm. Besides a little Canadian economic update this morning, not much fundamental news has come out. Traders were likely covering some shorts. Manufacturing sales, wholesale sales, and new motor…

Happy Storage Day Today’s storage report came in at a withdrawal of -62 Bcf for the week ending March 7, 2025. A larger draw than the expected -58 Bcf, and the market had a slightly bullish response. The NYMEX front month contract traded up from $4.03 US/mm to a high of $4.19, but then sold…

Today’s the day: NYMEX natural gas futures finally got clobbered! The April front month contract decreased 37 cents to settle at $4.08 US/mm. It’s the biggest single-day sell-off we’ve seen in a few months. The rest of 2025 is down as well, down 26 cents on average. Whether or not prices will remain at this…

Another day, another headline. Or three. Looks like Donald Trump is not happy about Ontario’s surcharge on exported electricity, and is back to threats of annexation and financial ruin. Doug Ford just announced that this surcharge is now suspended. Also, the US has doubled tariffs on Canadian steel, but apparently has moved to undo this…

Welcome back to another week. Unfortunately, the trade war fiasco continues. Premier Doug Ford spoke this morning to a room full of reporters, announcing the implementation of a 25% Tariff Response Charge on Ontario-generated electricity exports to the US (notably New York, Michigan, and Minnesota), starting today. He said he’s not afraid to increase the…

Happy Friday March’s weather forecast is getting warmer (Tuesday is expected to be 11 degrees Celsius and sunny in Toronto), and the NYMEX April front month contract sold off in the morning. Yesterday’s EIA storage report was a miss, and we are expecting smaller and smaller withdrawals out of storage as we move closer to Spring. This…