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Daily Market Update January 25, 2022

Early Morning Update

he Feb ‘22 natural gas contract is trading down $0.06 at $3.97.  The Mar ‘22 crude oil contract is up $0.19 at $83.50.

Summary

NG exports are back above 13 Bcf/d, after dipping as low as 11.4 Bcf/d over the weekend. Total demand for natural gas is up 7.2 Bcf/d on the day to 138.5 Bcf/d, with res/comm demand growing the most with a 6.3 Bcf/d uptick day-over-day. Production has remained virtually stable at 91.6 Bcf/d. The recent demand increases accompanying a relatively flat supply helped push the NYMEX natural gas prompt month back up over $4/MMBtu. The Feb contract rose almost three cents yesterday, eventually settling at $4.027/MMBtu. All of the gains seen in natural gas trading yesterday occurred at the front of the pricing curve, with the 12-mo strip up eight cents, also breaching the $4 level to settle at $4.015/MMBtu. Cal ‘23 and Cal ‘24 each rose less than one cent, and calendar strips beyond those each fell about a penny. With another cold snap on the way for the Northeast, spot natural gas and power prices are likely to increase in trading today and tomorrow, as weather continues to pricing in the energy markets. However, there is some good news on the horizon, as weather forecasts show warmer temperatures on the horizon and should relieve some of the pricing pressure in the first week of February.

 

Market Update 01 25 2022

Market Settles 01 24 2022

 

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