Market Watch

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Faced with heavy seasonal demand and sustained cold through the end of January, traders took the long-view and pushed February gas futures down 22.9¢ Thursday to $3.802 per million Btu. The move brings the two-session loss to 48.1¢ even as heating loads build in the eastern US markets. However, a kink in the bullish narrative has emerged as February outlooks turned less cold shaving about 33 Bcf of demand off the previous outlook. The 12-month strip fell 17.6¢ to $3.839; the 2023 calendar strip was down 6.3¢ to $3.445 (Futures contracts).

Gas Demand, Gas Inventories, Gas Supply, Gas Prices, Gas Pipelines
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