Weekly Natural Gas Market Report | February 20th, 2025

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Storage drawn down again, and temps falling next week – slightly b u l l i s h

WEEKLY NYMEX FWD CURVE CHANGES – FEBRUARY IS OUR PROMPT MONTH

NYMEX

Falling temps and rising LNG feedstock demand are driving prices with serious upward pressure, as analysts also anticipate strong demand for storage injections in less than seven weeks. MAR25 gained 31￠ on the week and settled at 3.565 while gaining in electronic trading and rising to 3.68. Next week’s temps show bitter cold every night and can put more upward pressure on prices.

STORAGE

Working gas decreased to 2,297 Bcf as of February 7th, with a withdrawal of 100 bcf, or 74 bcf LESS than last week, which was expected. Storage is 67 Bcf below the 5-year average, gaining 44 bcf - bearish. There are adequate supplies for the balance of Winter, yet withdrawals are expected to climb the next two weeks.

ONE WEEK CHANGE – NYMEX and OIL

WEATHER

Feb 6-12: Feb 13-19: Very cold systems will sweep across most of the interior US w/rain, snow, and highs of 0s to 40s, lows of -10s to 30s for strong national demand. The warmer exception will be the far southern US, with highs in the 50s to 70s. Overall, HIGH national demand the 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