BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to: Latest news headlines Analytical topics and features Commodities videos, podcast & blogs Sample market prices & data Special reports Subscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber (https://pmc.platts.com), Please navigate to Platts Market Center to reset your password.

In this list
Natural Gas

NYMEX December gas contract settles at $3.232/MMBtu, up 14.7 cents

Energy | Natural Gas | LNG | Oil | Refined Products

Interview: Satvinder Singh, Enterprise Singapore

Natural Gas | Oil

Platts Wellscape P2P

Oil | Crude Oil

Platts Workshop at the S&P Global Platts Energy

Natural Gas

Merger with Energen to turn Diamondback into pure-play Permian powerhouse

NYMEX December gas contract settles at $3.232/MMBtu, up 14.7 cents

The NYMEX December natural gas futures contract, in its final day of trading Monday, jumped 14.7 cents to settle at $3.232/MMBtu as increasingly supportive weather forecasts bolstered the market.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The December contract has rallied over the last seven trading sessions, rising 52.9 cents since November 17 to expire Monday at the highest prompt-month expiration price since the December 2014 contract expired at $4.282/MMBtu.

Analysts at Tudor Pickering Holt in a market note Monday said that the weather/forecasts are "looking normalish" over the next three weeks, which could help to start the process of "pulling down storage overhang."

In addition, despite a slow start to winter demand, the possibility still exists for gas prices "to see $3.75[/MMBtu] Q1 prices" if cold weather patterns persist, the analysts said.



The latest six- to 10-day and eight- to 14-day outlooks from the US National Weather Service called for below-average temperatures across the western one-third of the country. Near-normal temperatures were forecast across much of the Northeast, which was a bullish departure from forecasts prior to the Thanksgiving holiday in the US. Above-average temperatures were expected to remain across the Upper Midwest and the Southeast.

Over the next seven days, US demand is expected to total around 79.6 Bcf/d, up more than 4 Bcf from the prior week, Platts Analytics' Bentek Energy data showed. Looking further out, demand in the eight- to 14-day range is expected to rise even higher, reaching an estimated 92.9 Bcf/d.

Meantime, US gas production is expected to hold flat over the next two weeks, reaching an estimated 71.6 Bcf/d, according to Bentek data.

Further out on the curve, the January contract rose 11.8 cents to settle at $3.32/MMBtu the day before trading as the prompt-month contract starts.

The NYMEX settlement is considered preliminary and subject to change until a final settlement price is posted at 7 pm EST (0000 GMT Tuesday).

--Ryan Ouwerkerk, ryan.ouwerkerk@spglobal.com

--Edited by Valarie Jackson, valarie.jackson@spglobal.com