Weekly Natural Gas Market Report | February 27th, 2025

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Another triple-digit withdrawal and temps moderating next week – b u l l i s h

WEEKLY NYMEX FWD CURVE CHANGES – FEBRUARY IS OUR PROMPT MONTH

NYMEX

The NYMEX rally came to an end with warmer-than-normal temps covering the entire country this week. The NYMEX plunge also occurred just as the March contract expired and April became our Prompt Month, with traders’ focus shifting from the last Winter month to the new Summer Strip. APR25 lost 15￠ on the week and settled at $3.97 while also losing ground in electronic trading, now at 3.888. Bearish!

STORAGE

Working gas decreased to 1,840 Bcf as of February 21st, with a withdrawal of 261 bcf, or 65 bcf more than last week’s report. For today’s report, survey averages suggested a draw of -265-267 Bcf versus the 5-year average of only -141 Bcf. The analysts missed on the high side by very little. Storage is 238 Bcf below the 5-year average, falling by 120 bcf – this is bullish from a fundamental perspective.

ONE WEEK CHANGE – NYMEX and OIL

WEATHER

Feb 27 - March 5: Warmer than normal temps covering most of the US for light demand, aided by highs of 60s to 80s over the South. Temps over the northern US will be cool w/highs of 30s to 50s, then cooling into the 20s across the Upper Midwest Sunday-Monday. Overall, light demand through tomorrow, then increasing to moderate demand for Sunday-Monday before again becoming light.

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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