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Daily Market Update November 30, 2021

Early Morning Update

he Jan ‘21 natural gas contract is trading down $0.33 at $4.52.  The Jan ‘21 crude oil contract is down $2.65 at $67.30.


esterday was Cyber Monday and the NYMEX natural gas prompt month contract for January debuted in it’s first day of trading as the prompt month, selling off by 62 cents to end the day at $4.854/MMBtu.Just a few days prior, the December contract expired at $5.447/MMBtu after gaining 38 cents on Black Friday.One could argue that the NYMEX natural gas market had a better sale on Cyber Monday than on Black Friday.Production of natural gas has finally been averaging higher, a welcoming sign to market participants.Gas production has been boosted in both the Northeast region, where a partial completion of Transco’s Leidy South project added an additional 0.3 Bcf/day of additional capacity, and also in the Southeast, where the Double E pipeline recently began flowing 1.35 Bcf/day of additional capacity.On the demand side, Res/Comm heating demand is expected to continue to slide this week as the Midcon, Northeast, and Mid-Atlantic regions experience moderate weather patterns.Preliminary numbers for exports of natural gas show a recent record of 12.4 Bcf/day on 11/26, but have since slid to 11.5 Bcf/day on 11/30.As additional export capacity is expected to come online relatively soon, this will be something to keep watch. Currently, exports of LNG and pipeline exports to Mexico make up approximately 18 Bcf/day of demand potential, which is just shy of 20% of domestic production if the U.S. is producing 94 Bcf/day.


Market Update 11 30 2021

Market Settles 11 29 2021


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