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Daily Market Update December 22, 2021

Early Morning Update

he Jan ‘22 natural gas contract is trading up $0.13 at $4.00.  The Feb ‘22 crude oil contract is up $0.08 at $71.20.


eather forecasts remain warm covering the holiday season this month. The slight dip to temperatures for the East is very short-lived as much-warmer-than-normal temperatures are expected later this week into the first half of next week. The mild temperatures for December have helped with storage inventories levels as we exit 2021, with expectations that levels will surpass the 5-year average benchmark with tomorrow’s report. U.S. dry production is holding steady, averaging just under 95.0 Bcf/d so far this month, but has yet to return to the all-time high of 96.7 Bcf/d that we saw in November 2019. Global LNG pricing has once again been skyrocketing, breeching the $60/MMBtu threshold yesterday, as fears for supply to Europe build. U.S. LNG exports appear to be at peak capacity due to the extreme delta between the Henry Hub price and global hub pricing, breaking through 13.0 Bcf/d. Yesterday, the NYMEX natural gas futures price for January was erratic, trading between $3.947 and $3.719/MMBtu, before ultimately settling up 3.5 cents on the day at $3.869/MMBtu. There is still a lot of winter left, and pricing seems to remain very tightly correlated to weather outlooks.


Market Update 12 22 2021

Market Settles 12 21 2021


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