The Energy Buyer's Guide | 11.17.2025
Natural gas extends rally amid the first significant cold snap of the winter.
- December NYMEX climbed $0.25 to $4.57 per MMBtu, marking a fourth straight weekly gain as early-season cold and record LNG demand lifted winter sentiment.
- Storage rose 45 Bcf to 3,960 Bcf, maintaining a narrow deficit to last year and a comfortable cushion versus the five-year norm as withdrawal season gets underway.
- Natural gas fundamentals tightened sharply, with domestic demand surging across all sectors on colder weather while supply held flat at record levels.
- Winter basis premiums in the Northeast and Mid-Atlantic continued to firm, reinforcing a year-long trend of strong regional differentials tied to amplified risk during peak winter months.
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