Natural Gas Market Updates

In a highly elastic last day of trading, the NYMEX November contract started the day down $0.18 USD/MMBtu before snapping back to settle $0.03 USD/MMBtu or 1% higher at $3.38 USD/MMBtu. This marks the end of the Nov-25 contract as the front month. The contract initially started at $3.16 USD/MMBtu and peaked at $3.58 USD/MMBtu.…

The penultimate day of any NYMEX contract is often volatile as options expire. Today proved to be no exception as the November contract fell $0.10 USD/MMBtu or 2.8% to settle at $3.34 USD/MMBtu. On average, the next year (Nov-25 to Oct-26) fell $0.09 USD/MMBtu or 2.3%.    Aside from contract expiration, the drop can also…

As we enter the final week of October, two days before the November contract settles, it is important to recognize that market liquidity has shifted away from the NYMEX November (front-month) contract to the January and February contracts. The reduced active interest in November is making the front-month contract more volatile. This point was clearly…

Natural gas markets continued their decline following yesterday’s storage announcement. The NYMEX front month fell $0.14 USD/MMBtu or 4%, to currently sit at $3.21 USD/MMBtu. Unlike yesterday, where only the front month substantially dipped, the calendar strip is down an average of $0.07 USD/MMBtu or 2%. Despite today’s decline, the NYMEX front month still ended…

Storage day is upon us, and natural gas markets felt its wrath. The EIA’s announcement of an injection volume of 87 bcf compared to industry estimates of 80 bcf proved once again to support the bears. The NYMEX front month slid $0.11 USD/MMBtu or 3% to settle at $3.32 USD/MMBtu. The January and February contracts…

The NYMEX front month halted its rally today, falling $0.02 USD/MMBtu or 0.7% to settle at $3.45 USD/MMBtu. The colder winter months of January to March fell $0.05 USD/MMBtu as liquidity has largely shifted later into the winter. Reminder that the November contract settles on Wednesday, October 29th. The decreased volatility today reflects traders’ patience…

In a quieter rangebound trading session, the NYMEX front month settled $0.78 USD/MMBtu or 2% higher at $3.47 USD/MMBtu. The front month is now approaching the three-month high settlement of $3.50 USD/MMBtu, reached on October 7th. Traders continued to weigh the recent revision of weather forecasts, adding heating demand to the start of November. Following…

Natural gas markets skyrocketed today, with the NYMEX front month increasing $0.39 USD/MMBtu or 13% to settle at $3.40 USD/MMBtu. The entire calendar strip (Nov-25 to Oct-26) increased an average of $0.19 USD/MMBtu or 5%. The general sentiment is that gains were driven by a colder revision to the weather forecast over the next two weeks,…

This week’s NYMEX rout finally ended today as the prompt month settled at $3.01 USD/MMBtu, up $0.07 USD/MMBtu or 2.4%. Despite today’s gains, this is the second consecutive week of losses for the NYMEX. The market is down 3% this week, following last week’s 7% decrease. Continued high storage injection volumes and warmer-than-normal weather are…

The EIA recorded an injection of 80 bcf into the lower 48’s storage this past reporting week, pushing inventories 154 bcf above the 5-year average, slightly higher than expected. After the report’s release, NYMEX sold off, the front month settling down 7 cents to $2.94 US/mm. Storage in western Canada is basically full, and Dawn…

Pretty steady day for NYMEX natural gas, markets opened with futures being down about five to ten cents over the next few contract months, but slowly throughout the day prices increased back to yesterday’s settle. The November front month contract ultimately only settled down one cent to $3.016 US/mm. AECO prices are starting to return…

The markets were off all day today, down 0.07 USD/Mmbtu average through to next fall. Alberta prices are rebounding as the maintenance and curtailments have eased over the past week. Temperature remain above the seasonal average as we move through October running 6Deg above seasonable at this time of year. The NOAA noted the limited…