NYMEX Natural Gas Futures Contract Prompt month June +US$0.227/MMBtu at $2.592, low of $2.352, high of $2.634, range of $0.282 | Summer 23 +$0.202 at $2.743, Winter 23 +$0.134 at $3.687.
Market Fundamentals After trading flat for the last few days, natural gas made the shift upwards after a smaller than expected storage injection. While the average consensus estimate was for 107.8 billion cubic feet (Bcf), the actual injection according to the U.S. EIA was only 99 Bcf. Stocks are still 521 Bcf higher than last year at this time, and 340 Bcf above the five-year average of 1,900 Bcf. Larger than expected injections are expected to continue for the remainder of the month. ~CL