The Energy Buyer's Guide | 11.24.2025
Natural gas ends the week virtually flat ahead of the onset of winter weather.
- December NYMEX posted a fifth straight weekly gain, while winter and summer strips edged lower, highlighting the market’s continued front-month sensitivity.
- Storage fell 14 Bcf in the first withdrawal of the season, putting inventories at 3,946 Bcf — essentially matching year-ago levels and still well above the five-year average.
- Fundamentals loosened as milder weather cut domestic demand by 4.5 Bcf per day, though production held near record highs and LNG exports remained steady near 19 Bcf per day.
- A colder shift is expected to materialize this week, with below-normal temperatures expected to persist into mid-December; the market is bracing for the potential for an extended stretch of elevated demand.
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