Natural Gas Market Updates

The storage report for the week ending March 28, 2025 was an injection of +29 Bcf in the lower 48. This was slightly more than expected, which should have a bearish impact, but clearly not today; the NYMEX May front month contract rallied 10 cents to close at $4.11 US/mm today. In addition to scheduled…

The Canadian weather forecast shifted today, temperatures dipped a bit lower next week, but the rest April should stay close to normal. It’s a similar pattern in the lower-48’s forecast, temperatures are still set to mostly hover around normal besides the cold next week. Today we saw some snow and freezing rain in Toronto. The…

The NYMEX Front Month contract sold off 17 cents today, closing at $3.96 US/mm. Besides an updated temperature outlook, there hasn’t been a significant change in the fundamentals. Ongoing scheduled maintenance is causing a slight dip in production levels and LNG feed gas demand remains strong, but heating demand is falling off as temperatures still…

Welcome back to another week. As we say goodbye to March, there’s been a shift in the weather outlook. The Eastern US has turned from normal to likely below normal in mid-April. Since the East is more reliant on natural gas for heating, expect heating demand to not disappear just yet. That being said, early…

The EIA’s storage report for the week ending March 21st came out to be a injection of 37 Bcf in the lower 48, much larger than expected. Although gas prices did initially drop when the report was released, prices rallied later in the afternoon. Keep in mind that today is the last day of trading…

Yet another quiet day. Again, little change in the NYMEX natural gas futures prices, only drifting down a few cents. The April front month contract closed at $3.86 US/mm, and expires tomorrow. Today is the last day of options trading. Also little change on the weather front, April temperatures are still expected to be near…

Another uninteresting day. NYMEX futures slowly drifted off during the day, but like yesterday, nothing crazy. The April futures contract expires on Thursday, so May will soon be the front month. The contract was down 7 cents today to $3.88 US/mm. The sell-off is consistent with the warm 8-14 day forecast. NOAA’s updated Seasonal Temperature…

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…