The Energy Buyer's Guide | 01.13.2025
Volatility continued in NYMEX futures as intense cold looks to return.
- Natural gas futures were sharply higher last week, with the prompt-month contract approaching $4.00 per MMBtu and posting its highest weekly settlement in more than two years
- Weekend updates to weather forecasts increased the intensity of the next round of cold set for January 20-22, which now look like the coldest days of the season so far
- Spot natural gas and power prices were higher in every market last week, with the Northeast and MidAtlantic experiencing the most significant price increases
- The 40-Bcf storage withdrawal announced for the week ended January 3 brought natural gas inventories back to virtually in line with year-ago levels, but stocks are expected to be drawn down at a rapid rate for the following three weeks
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