NYMEX Natural Gas Futures Contract Apr23 +US$0.183/MMBtu at $2.731. Summer 23 +$0.126, Winter 23 +$0.053.
Market Fundamentals Today marked the first day of the Apr23 contract trading as the prompt month. Continuing last week’s trend, sessions continue to trade higher on the news of colder weather. The week ending March 17th, 2023 is now looking to be the coldest week since early February. On the LNG side, Freeport continues to approach the FERC for approval to resume service of Liquefaction Train 1. So far, Train 3 has returned to full commercial operations and Train 2 is progressing through the restart process. Upon completion, Freeport will resume it’s feedgas demand of 2 Bcf/d. ~CL