--- title: Natural Gas Weekly – December 23, 2021 - Alternative Energy Source description: Natural gas weekly storage and market news for December 23, 2021, including an overview of natural gas fundamentals and market numbers. image: https://natural-gas-weekly.aes-energ.com/hubfs/Imported_Blog_Media/NGW3-Apr-11-2022-09-45-04-04-PM.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 23, 2021](https://natural-gas-weekly.aes-energ.com/hubfs/Imported_Blog_Media/NGW3-Apr-11-2022-09-45-04-04-PM.png) # Natural Gas Weekly – December 23, 2021 [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 23, 2021 saw the overall storage deficit to the five-year average erased with a withdrawal of 55 Bcf. Decreased consumption for heating, forecasts for mild temperatures, power generation demand offsets from increased wind generation, and retreating European markets contributed to a drop in domestic natural gas futures this morning. Without a shift toward colder temperatures, it will likely be a calm close to an otherwise volatile year for the natural gas market. #### ************Natural Gas************ Markets A few key factors worked to erase the gains posted earlier this week. – Storage. This week’s withdrawal of 55 Bcf was small by historical standards. Comparatively, the five-year average of withdrawals is 153 Bcf. Likewise, last year’s draw is 147 Bcf. Ultimately, it meant storage levels in excess of the five-year average by 34 Bcf. – Wind. Increased wind generation offset natural gas demand for use in power generation which contributed to this week’s bearish storage totals. – Weather. Even with normal December-ish weather, there’s still a [drop in overall heating degree days](https://www.reuters.com/markets/commodities/us-natgas-drops-6-milder-weather-forecasts-ahead-storage-report-2021-12-23/) over what’s typical for this time of year. Current projections expect this winter to be one of the warmest since the 1950s. – Europe. Even though record-high LNG exports represent a bullish force on prices, easing [pronounced concern over European storage shortfalls](https://www.reuters.com/business/energy/russian-gas-flows-germany-via-yamal-europe-stop-gascade-data-shows-2021-12-21/) [calmed skyrocketing international markets](https://www.reuters.com/markets/commodities/us-natgas-drops-6-milder-weather-forecasts-ahead-storage-report-2021-12-23/) which in turn stalled upward price movement domestically.   #### ******************Natural Gas Futures Quick Look****************** FEB22, settled at $3.860/Dth, up 9.9 cents MAR22, settled at $3.713/Dth up 4.5 cents APR22, settled at $3.635/Dth up 3.3 cents MAY22, settled at $3.649/Dth up 3.5 cents JUN22, settled at $3.697/Dth up 3.7 cents ---   #### **Natural Gas Market Report – December 23, 2021** ##### January NYMEX ![January NYMEX graph for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-Jan.png?width=902&height=601&name=12_23-Jan.png) ![January NYMEX graph for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-Jan.png?width=902&height=601&name=12_23-Jan.png) Settled Wednesday at $3.976/Dth, up 10.7 cents from Tuesday’s close at $3.869/Dth and 17.4 cents from the prior week. ##### 12 Month Strip ![12 month strip for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-12M.png?width=902&height=602&name=12_23-12M.png) ![12 month strip for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-12M.png?width=902&height=602&name=12_23-12M.png) Settled Wednesday at $3.794/Dth, up 5.6 cents from the prior week.   ##### Seasonal Strips ![seasonal strip for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-Seas.png?width=902&height=601&name=12_23-Seas.png) ![seasonal strip for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-Seas.png?width=902&height=601&name=12_23-Seas.png) The winter strip (JAN22-MAR22) settled Wednesday at $3.850/Dth, up 10.6 cents from the week prior. The summer strip (APR22-OCT22) settled Wednesday at $3.719/Dth, up 3.7 cents from the week prior. ##### Calendar Years 2022/2023/2024 ![seasonal strip for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-CY.png?width=902&height=602&name=12_23-CY.png) ![seasonal strip for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-CY.png?width=902&height=602&name=12_23-CY.png) CY22 settled Wednesday at $3.794/Dth, up 5.6 cents from the prior week. CY23 settled Wednesday at $3.413/Dth, up 1.6 cents from the prior week. CY24 settled Wednesday at $3.203/Dth, up 2.3 cents from the prior week.   ##### Crude Oil ![crude oil prompt month for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-Crude.png?width=902&height=602&name=12_23-Crude.png) ![crude oil prompt month for natural gas December 23 2021 report](https://natural-gas-weekly.aes-energ.com/hs-fs/hubfs/Imported_Blog_Media/12_23-Crude.png?width=902&height=602&name=12_23-Crude.png) Settled Thursday at $72.76/barrel, up $2.10 from the prior week.   --- ### Need Help Making Sense of Natural Gas Prices? Give us a call. 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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