Natural Gas Market Updates

And another rally to finish the week. The NYMEX front month contract price (in the widget below) paints a very clear slow and steady increase. Going into the long weekend, know that temperatures are set to drop next week. In Ontario, Monday and Tuesday are expected to be the coldest days of the month, maybe…

Believe it or not, we are half-way through February. The storage report came in in-line with expectations; a nice withdrawal of -100 Bcf for the week ending February 7, 2025. Not as crazy of a withdrawal compared to what we’ve been seeing this season, but the withdrawal for next week is sure to be huge.…

The March front month contract continues to creep upwards, closing at $3.57 US/mm, up 6 cents. On the temperature front, late February is warming up to near-normal, but the short term is looking quite cold. Additionally, meteorologists have their eyes on a few significant winter storms in the coming days, which will drop a lot…

Another rally today: the NYMEX front month contract got up to $3.57 US/mm in the morning, but sold off in the afternoon to settle at $3.52, just 7 cents up from yesterday. Not a crazy move, but the market is still showing some anxiety as colder forecasts come in and geopolitics remain uncertain. The consensus…

The week begins with a news of incoming cold, a tariff update, and a rally. Both NOAA’s 6-10 day and 8-14 Day Temperature Outlooks are showing a likelihood of below normal temperatures for most of the US, well into February. Meteorologists are watching for a significant winter storm that will bring a lot of snow…

Happy Friday A quiet Friday to end the week. The March front month contract hasn’t seen any crazy movements the past few days (probably partly due to the lack of tariff news). Today, the price decreased about 8 cents from $3.38 US/mm to $3.30. However, there has been a shift in February’s forecast expectations. Looks…

Happy Storage Day The EIA reported a withdrawal of -174 Bcf out of storage for the week ending January 31st. This compares to an expected withdrawal of -168 to -174 Bcf that I read during the week. The five-year average withdrawal -174 Bcf. All in all, the report was in line with expectations. We now have 2,397…

Another mixed day. Just like yesterday, the NYMEX March front month contract hit a low in the morning ($3.17 US/mm at 9 am today) and then increased during the day. We were up about 5 cents across the summer contracts. The weather report is for warmer than average for the rest of this week, but…

Trump has un-tariffed Canada for a month. I doubt this is the final chapter of this story. Check out this opinion piece from the Wall Street Journal titled The Dumbest Trade War in History. Okay, now to some natural gas bullet points…

Well, we’re sure you’ve seen the news yesterday; the US declared 25% tariffs on Canadian goods, and 10% on Canadian energy. In response, Canada imposed 25% tariffs on American products coming across our border. At the same time, temperatures across the US are expected to get colder. In response to this news, the NYMEX March…

Happy Friday. A quiet Friday to wrap up January; natural gas prices have barely moved today. March 2025 at NYMEX closed at $3.05 US/mm, down 1 cent. Weather forecasts have not changed dramatically either; we are still expecting relatively normal temperatures. Trump has been in the news suggesting that tariffs on Canadian exports could come…

Say hello to the March front-month contract, currently sitting at $3.05 US/mm after selling off about 12 cents. Quite the difference compared to where February was trading at only a few days ago. The recent cold snap is over, and temperatures are returning to near normal. The first week of February is expected to have…