--- title: Natural Gas Weekly – December 1, 2022 - Alternative Energy Source description: Natural gas weekly storage and market news for December 1, 2022, including an overview of natural gas fundamentals and market numbers. image: https://natural-gas-weekly.aes-energ.com/hubfs/Copy%20of%20EnergyNews%20_Newsletter_Header%20(1).png --- [![Alternative Energy Source](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/raw_assets/public/AlternativeEnergySource_February2022/images/Header%20logo.png?width=250&height=39&name=Header%20logo.png "Alternative Energy Source")](https://aes-energ.com/) [![Alternative Energy Source](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/raw_assets/public/AlternativeEnergySource_February2022/images/Mobile%20Header%20logo.png?width=260&height=41&name=Mobile%20Header%20logo.png "Alternative Energy Source")](https://aes-energ.com/) - [Home](https://aes-energ.com/) - [Services](https://aes-energ.com/energy-services/) - [Electric Contracts](https://aes-energ.com/services-electric-contracts/) - [Demand Response](https://aes-energ.com/services-demand-response/) - [Natural Gas](https://aes-energ.com/services-natural-gas/) - [Energy Efficiency](https://aes-energ.com/services-energy-efficiency/) - [Commercial Solar Power](https://aes-energ.com/services-commercial-solar-power/) - [Utility Invoice Management](https://aes-energ.com/services-utility-invoice-management/) - [Resources](https://aes-energ.com/energy-resources/) - [Energy News](https://energy-news.aes-energ.com/) - [Natural Gas Weekly](https://natural-gas-weekly.aes-energ.com/) - [About](https://aes-energ.com/alternative-energy-source-about-us/) - [Contact](https://aes-energ.com/contact/) Search for: ![Natural Gas Weekly – December 1, 2022](https://natural-gas-weekly.aes-energ.com/hubfs/Copy%20of%20EnergyNews%20_Newsletter_Header%20(1).png) # Natural Gas Weekly – December 1, 2022 [Natural Gas](https://natural-gas-weekly.aes-energ.com/tag/natural-gas) / By [Laurie C](https://natural-gas-weekly.aes-energ.com/author/laurie-c) ## Natural Gas – Week In Review *Natural gas report week December 1, 2022.* This week’s draw of 81 Bcf (the first of the season) was in line with analysts’ expectations which ranged from withdrawals of 76 Bcf to 121 Bcf. Comparatively, last year’s withdrawal was 54 Bcf and the five-year average of net withdrawals is 34 Bcf. Current storage totals 3,483 Bcf which is 2.4% below the five-year average but still within the five-year historical range. --- ### Natural Gas Weekly Fundamentals Demand- Overall demand fell by 16.5%, declining by 16.6 Bcf/d week. Power generation dropped by 4.7 Bcf/d, industrial demand lost 1.3 Bcf/d, and residential/commercial sector consumption shed 10.6 Bcf/d. The LNG export ship count totaled 16 for an overall capacity of 59 Bcf. Production – Production grew by 0.5 Bcf/d, averaging 101.2 Bcf/d over the report week. Imports from Canada are down 1.2 Bcf/d from last week. The natural gas rig count fell by two over last week, totaling 155 rigs. Oil-directed rigs grew by four, for a total of 627. ---   ### Natural Gas Weekly Market Report - December 1, 2022 ##### January NYMEX ##### ![January NYMEX graph for natural gas December 1 2022 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/12.1%20Jan.png?width=733&height=482&name=12.1%20Jan.png) ![May NYMEX graph for natural gas April 7 2022 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/4_7-May.png?width=902&height=541&name=4_7-May.png) January settled Tuesday at $6.738/Dth down 19.2 cents from Wednesday’s close at $6.776/Dth and down 97.0 cents from the prior week. December moved off the board Monday, November 28th, settling the month at $6.712/Dth. ##### 12 Month Strip ##### ![12 month strip for natural gas December 1 2022 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/12.1%2012M.png?width=732&height=458&name=12.1%2012M.png) ![12 month strip graph for natural gas April 7 2022 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/4_7-12M.png?width=902&height=542&name=4_7-12M.png) Settled Thursday at $5.674/Dth, down 29.9 cents from the prior week.   ##### Seasonal Strips ##### ![seasonal strip for natural gas December 1 2022 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/12.2%20Seasonal.png?width=730&height=456&name=12.2%20Seasonal.png) ![seasonal strip graph for natural gas April 7 2022 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/4_7-Seasonal.png?width=902&height=542&name=4_7-Seasonal.png) The winter strip (JAN23-MAR23) settled Thursday at $6.456/Dth, down 83.1 cents from last week while the summer strip (APR23-OCT23) settled at $5.302/Dth, up 2.3 cents week-over-week.     Calendar Years 2023/2024/2025 ![Calendar strip graphs for December 1 2022 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/12.1%20CY.png?width=774&height=484&name=12.1%20CY.png) CY23 settled Thursday at $5.674/Dth, down 18.3 cents from the prior week. CY24 settled Thursday at $4.779/Dth, up 2.8 cents from the prior week. CY25 settled Thursday at $4.580/Dth, up 1.6 cents from the prior week.     ##### Crude Oil ##### ![crude oil prompt month for natural gas December 1 2022 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/12.1%20Crude.png?width=732&height=433&name=12.1%20Crude.png) Settled Thursday at $81.22/barrel, up $3.28 from the prior week. ---   Need Help Making Sense of Natural Gas Prices? We can help you manage risk and navigate the current price volatility. We’ll evaluate your current contract and explore your [natural gas buying options](https://aes-energ.com/services-natural-gas/). Call us at 866-646-7322 for a no-cost, no-obligation analysis today. 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