NYMEX Natural Gas Futures Contract Prompt month Jul23 +US$0.067/MMBtu at $2.329, low of $2.25, high of $2.346, range of $0.096 | Summer 23 +$0.051 at $2.446, Winter 23 +$0.03 at $3.461.
Market Fundamentals Prices are slightly up from yesterday on another loss of 0.9 Bcf/d in production as levels retreated to early April levels. The belief continues to be that this is due to maintenance, not a systematic change in the market. Demand side-wise, temperatures will continue to stay below average until mid-month when hotter weather is set to emerge. On the Canadian side, production holds flat near 17 Bcf/d, up from the low of 14.5 Bcf/d during the beginning of the Albertan wildfires. Much of the production continues to be exported to the U.S.