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Daily Market Update February 25, 2022

Early Morning Update

The Apr ‘22 natural gas contract is trading down $0.15 at $4.49.  The Apr ‘22 crude oil contract is down $0.65 at $92.16.

Summary

A week full of news has led to interesting movements in the almost every stock and commodities market. Although international markets for gas and oil have seen larger price increases, the United States NYMEX natural gas prompt month saw an increase early in the trading session followed by decrease closer to settle. Despite the 65 cent trading range which leaned mostly bullish, settle price for March 2022 landed at $4.568/MMBtu. Compared to the intense volatility of the February 2022 contract, this contract expiration was much less intense. The terrible situation in Ukraine and Russia has caused some fears in the international market, pushing LNG prices higher. As a result, the New England region, which competes for LNGs, is seeing local prices for gas and power increase. NYMEX prompt was also likely saved volatility as the EIA reported an on-target withdrawal from storage that lined up with market expectations at 129Bcf. April 2022 is now the new prompt month and settled yesterday in a positive movement at $4.641/MMBtu.

 

Market Update 02 25 2022

Market Settles 02 24 2022

 

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