Weekly Natural Gas Market Report | April 18th, 2024

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Storms ending, and temps warm up this weekend into next week - b e a r i s h.

WEEKLY NYMEX FWD CURVE CHANGES

NYMEX

LNG feedstock demand is off while production numbers come in lower, offsetting each other somewhat while storage is filling early. The Prompt Month is trading below $2 in the tenth week. MAY24 is off more than ten cents on the week at 1.74. Summer is off 7￠ at 2.24. Next Winter is off 3￠ at $3.39. Production is off another 2% after pulling back 5% from December to March, tightening the balance.

STORAGE

Working gas is now 2,333 Bcf as of April 12th, after an injection of 50 Bcf. Storage is now 424 Bcf higher than last year, and is 622 Bcf above the 5-year average, giving up 11 Bcf. Storage and pricing will impact injection schedules this month and next. The high storage levels could hold down prices through December.

ONE WEEK CHANGE – NYMEX and OIL

WEATHER

April 18-24: Cool temps sweeping across the North, Central US, and East into next week w/rain, snow, and lows of 20s and 30s, highs of 40s-60s. More cooling to impact Northeast next week, and the interior warms above normal with highs of 60s-80s and 90s in Texas. Overall, Moderate-High Demand Next 7 days.

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Ohio Certificates- Natural Gas: 14-343G(3) Electric: 14-780E(3)

Pennsylvania Certificates- Natural Gas: A-2016-2562535 Electric: A-2009-2108640

*Disclosure: This information is provided as a courtesy to our customers and should not be construed as advice regarding the purchase or sale of exchange-traded futures or options contracts. This report is based on factual information obtained from sources believed to be reliable, but their accuracy is not guaranteed. Reliance on this information is at the sole risk of the reader. The opinions stated here are those of the writer, and are not made on behalf of Chrislynn Energy, or any of its affiliates and subsidiaries.