NYMEX Natural Gas Futures Contract Prompt month NYMEX June 2023 settlement +US$0.029/MMBtu at $2.267, low of $2.184, high of $2.297, range of $0.113 | Summer 2023 +$0.016 at $2.464, Winter 2023 +$0.004 at $3.492.
Market Fundamentals Markets were relatively quiet today with minimal moves to the upside for June 2023 to March 2024. Wildfires continue to keep prices elevated in Alberta, but the return of supply is expected to drop prices. Further out, the U.S. EIA released their Short-Term Energy Outlook today, and have significantly increased power generation demand for the summer. Their expectation is higher prices as power plants are choosing not to switch back to coal even amidst the supply surplus. ~CL