Natural Gas Market Updates

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…

Today marks the last full day of trading for the NYMEX February front month contract. It looks like the price has settled at $3.38 US/mm after another big sell-off, a 3-week low. The March contract is currently at $3.09. Coming up is the spread between the March and April contracts, known as ‘the widow-maker’. This…

Welcome to the last week of January. NYMEX natural gas has seen a massive sell-off across the board, but especially in the February contract (down almost 40 cents US), which only has a couple days of trading left (expires on the 29th). Why the sell off? It is possible that many traders got long in…

Happy Friday Some volatility to end the week; the February front month contract was down to $3.80 US/mm in the morning, but has since turned around and increased to close at just over $4 US/mm. Trading for the February contract has been winding down, with its expiration approaching on January 29. As for the near…

Happy Storage Day The EIA reported that for the week ending January 17th, Utilities withdrew -223 Bcf out of storage. Consensus was for -242, so it was a miss this week. The NYMEX February front month contract was up just above $4.00 US/mm and sold off after the report.  But certainly the sell off was…