NYMEX Natural Gas Futures Contract Jul23 prompt month NYMEX +US$0.074/MMBtu at $2.34, low of $2.275, high of $2.37, trading range of $0.095. Summer 23 +$0.07 at $2.427, Winter 23 +$0.047 at $3.435.
Market Fundamentals Undoing the colder forecasts yesterday, warmer temperatures in the West has caused natural gas prices to rise once again. Additionally, following the usual trend, production dropped by a net 1.88 Bcf/d today as the “Tuesday drop” scenario continues. Since the winter, volumes have shown a consistent fall before climbing into the weekend. This week’s is attributable to the commencement of maintenance on varying pipelines.