NYMEX Natural Gas Futures Contract Prompt month May 2023 settle +US$0.014/MMBtu at $2.186. Trading range of $0.121, high of $2.247, low of $2.126 | Summer 2023 -$0.016 at $2.506, Winter 2023 -$0.022 at $3.493.
Market Fundamentals A lot of up and down movement today. Weather models continue to confirm this week being above normal, with the following week slightly below. Production was lower today, with volumes being impacted by seasonal maintenance. Markets continue to move more so with traders entering and exiting. Prior to 8:30 AM EST today, the May 2023 prompt month contract had a steep run to the high of $2.247, but on the dot at 8:30AM as traders begin their days, a 180 was seen as prices hit the daily low. Prices are steadily testing higher levels as we expect more volatility this week. ~CL