NYMEX Natural Gas Futures Contract May prompt month settle +US$0.107/MMBtu at $2.114, low of $1.946, high of $2.132, range of $0.186
Summer 2023 +$0.111 at $2.47, Winter 2023 +$0.087 at $3.455.

Market Fundamentals After hitting a low early in the morning, prices climbed for the rest of the day. Fundamentally, not much has shifted, and some traders have been saying the rally was due to short covering to close out positions before the weekend. This action has caused a 5.1% weekly gain, only the second weekly increase in the past six weeks. Renewed selling will most likely return given the projected injection of 68 Bcf, which would further widen the 19% storage surplus throughout the remainder of April. ~CL

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