Weekly Natural Gas Market Report | January 30th, 2025

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Storage drawn down substantially, but temps are rising – b e a r i s h

WEEKLY NYMEX FWD CURVE CHANGES – FEBRUARY IS OUR PROMPT MONTH

NYMEX

Prices have been coming off hard for days as Winter winds down and production is on the rise. Despite huge storage withdrawals reported last week and today, supply is plentiful. FEB25 expired Wednesday and settled at 3.535, losing 43￠ on the week. MAR25, our new Prompt Month, lost 27￠ on the week and settled at 3.17, and is falling at this writing. Warmer-than-normal weather across much of the nation is putting incredible downward pressure on prices.

STORAGE

Working gas decreased to 2,571 Bcf as of January 24th, with a bullish withdrawal of 321 bcf, or 98 bcf more than last week and putting the cushion to the five-year average in negative territory. Storage is now 111 Bcf below the 5-year average, shedding 130 bcf. This withdrawal may be bullish, yet analysts believe there is adequate supplies for February and March.

ONE WEEK CHANGE – NYMEX and OIL

WEATHER

Jan 30-Feb 5: Cold air across Great Lakes and Northeast next two days w/highs of 20s-30s, lows of 0s to 20s. A milder system will track across the South w/rain and highs of 40s-50s. More cold will track into the Pacific NW/N. Rockies this weekend into next week. Overall, Light national demand much of 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