Today marked the last day of August trading as the prompt month NYMEX contract. As per usual, we saw quite a bit of volatility. Prices traded within a US$0.651/MMBtu range today, with a low of $8.487 and a high of $9.138. For the majority of the day, prices trended downwards, but we saw a bounce of the low at around 2PM with prices climbing into the final settlement of the August contract. Asides from trading volatility, fundamentals stayed fairly consistent Weather is expected to remain hot heading into August, with the week ending August 12th expected to be as hot as last week. Other news to watch out for would be European and Asian gas prices as Russia cuts off much needed supply. September 2022 prices hit $60 and $40 in the two markets respectively. Tomorrow will mark another storage report from the U.S. Energy Information Administration. Many analysts are expecting an injection in the 10s, which signifies extreme tightness, especially when made weather relative. Make sure to join us again tomorrow to catch-up on what’s happening in natural gas. ~CL

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