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Daily Market Update November 23, 2021

Early Morning Update

he Dec ‘21 natural gas contract is trading up $0.14 at $4.93.  The Dec ‘21 crude oil contract is up $0.25 at $77.00.

Summary

esterday saw another whirlwind day for near-term NYMEX as the prompt month of December spiraled down nearly 28 cents to $4.789/MMBtu, taking with it the 12-month strip, down 13 cents to $4.253/MMBtu. Other calendar strips also came down at least 3 to 5 cents each, out through 2025. Despite falling NYMEX prices, spot gas in the Northeast spiked yesterday on blasts of cold weather that swept through the region over the weekend and is expected to continue through the 10-day forecast. The remainder of the country looks to continue at near or above-normal temperatures through the next two weeks, which may help to stabilize the supply & demand picture as we move closer to the meteorological winter season. Due to the holiday on Thursday, we will see the weekly storage report released tomorrow morning, a day earlier than normal.

 

Market Update 11 23 2021

Market Settles 11 22 2021

 

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