NYMEX Natural Gas Futures Contract Prompt month April 2023 -US$0.115/MMBtu to $2.223 | Summer 2023 -$0.097 to average $2.619 | Winter 2023 -$0.057 to $3.552.
Market Fundamentals It’s the first day of Spring today as we look to welcome the spring equinox, and perhaps the natural gas market is feeling it to. Prices fell across the board with much of the pressure falling on this upcoming summer as well as for November 2024 and beyond (although less liquid months tend to be more volatile). Weather continues to run warmer with a brief period above normal for the next couple of days. Prices overseas in the TTF contract continue to fall, giving up another 8% today, closing at its lowest point since July 2021, while JKM fares slightly better around $2 higher. More than anything, the recent turmoil from the banking world is trickling into commodities as overall sound sentiment continues to fall. ~CL