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January 10, 2025 – Market Update
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.…
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January 9, 2025 – Market Update
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…
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January 8, 2025 – Market Update
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…
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January 7, 2025 – Market Update
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…
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January 6, 2025 – Market Update
Some more volatility today. The front month is up 10% on cold weather (the NYMEX close was $3.70 UD/mm), but next summer is only up a bit (the close was $3.42 US/mm). Production is down from 106.0 Bcf/d to 102Bcf/d on Monday, mostly due to the cold weather causing freeze offs. And with even colder…
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January 3, 2025 – Market Update
Happy Friday The EIA reported that for the week ending December 27th, -116 Bcf of gas came out of storage in the lower 48, less than the expected -122 to -126 consensus. Second miss in two weeks. Unsurprisingly, the market sold off. The NYMEX February front month contract sold off to $3.34 US/mm, down 8%. …
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January 2, 2025 Market Update
Welcome to 2025 The NYMEX is holding in tough at these levels as the February front month contract refuses to continue the sell off from last year (that is to say two days ago). Last trade $3.68 US/mm, up five cents (130pm) The EIA storage report will be released tomorrow. The current consensus is for…
