Natural Gas Market Updates

Yet another day of NYMEX futures tanking… the forward curve settled down another 14 cents US/mm, essentially erasing yesterday’s gains. Last trade for February 2026 is $4 US/mm flat. Mid-January usually marks a point where traders are no longer concerned about the winter and instead start looking ahead to the next year. By now we…

Markets were off from yesterday’s highs as traders started taking profits from the latest rally. Temperatures continue colder today, with the lower 48 temperatures falling – 16 Deg F, with the biggest decline in the midwest. Emerson is operating with a Force Majeure forcing supply to be cut affecting the Great Lakes pipeline. No real…

A rally to begin the week, seems like NYMEX is correcting itself after Friday’s big sell-off, even in the face of meteorologists predicting an impending cold snap. February 2026 settled up 24 cents to $3.41 US/mm. Forecasts have not shifted too far since Friday. After some recent warmth, Ontario temperatures should plunge to below normal…

Another big sell off to close out the week. NYMEX futures prices dropped another -4.3% on average across the curve, marking an 11-week low. Although there is still cooling on the way for most of the US in the 8-14 day period, the market is clearly showing confidence in storage and the especially strong production…

The EIA reported today that for the week ending January 2, 2026, the lower 48 states pulled about -119 Bcf of gas out of underground storage reserves, only a few Bcf more than expected, and still in line with the 5-year average. The market relaxed in reaction, dropping another 11 cents in the February 2026…

NYMEX futures bounced up after several days of consistent decreases, understandable since some range-bound trading is to be expected when there is not much shift in the fundamentals. That being said, there is news of a slight cooler-revision of temperature forecasts in the US and Canada later in January. Again, temperatures right now are well…

NYMEX’s bearish run continues; buyers are happy to see the February 2026 front month contract settling down another 17 cents to end the day at $3.35 US/mm. It’s been quite the strong sell-off the past few weeks (now at a 10-week low). Cash prices at Dawn have dipped too. Again, demand will likely remain quite…

The week begins with NYMEX futures falling another ~12 cents across the curve, with February 2026 settling to $3.52 US/mm. The leading sentiment is that warmer-than-normal temperatures are here and expected to linger over the coming days, especially this week for Ontario. Here in Toronto, we’re expecting to hit as high as 8 degrees Celcius…

Welcome 2026! Another steady day in the market as traders begin returning to the office. NYMEX is down another -2% over the next 12 months, last trade price at $3.62 US/mm. Weather expectations continue to vary, but for now the short-term 6-10 day is looking to be warmer-than-normal in most of the US, especially the…

Welcome to the February 2026 NYMEX front month! The front month opened much lower than where December 2025 settled, and has been trading more or less range-bound over the since then. Today though, markets rallied about 5% in the morning before falling back down by noon. Last price is $4.04 US/mm for Feb 2026 from…

Huge rally in NYMEX prices today, the January contract ultimately settling 11% up to $4.49 US/MMBtu, and other months across the curve seeing big gains as well. The big noise in the marketplace is that there are some big short term revisions in the various weather models that show a much higher likelihood of colder-than…

A bit of volatility in today’s NYMEX activity as traders begin to wrap up the positions in time for the holidays. After being up about 10 cents across the curve this morning, we ultimately settled down about 10 cents. Not much of a move in the front month, but February 2026 settled down 9 cents…