Natural Gas Market Talk | 12.06.2024

Natural gas futures have reversed course since peaking two weeks ago, with traders now looking past the current cold snap and focusing on the subsequent warmup. Demand is much higher than year-ago levels this week, while production is improving but still below the output from 12 months prior. Cash pricing has pushed higher across most markets this week, especially in the Northeast, which saw deliveries exceed $10 per MMBtu. NYMEX futures, meanwhile, are still near $3.00 per MMBtu for the balance of winter.