NYMEX Natural Gas Futures Contract Jul23 prompt month US$0.002/MMBtu at $2.342, low of $2.294, high of $2.39, trading range of $0.096. Summer 23 +$0.002 at $2.43, Winter 23 +$0.01 at $3.445.
Market Fundamentals It’s another one of those days with high intraday volatility, but unchanged if we’re just looking at the interday settlements. Temperatures in Texas are giving natural gas bulls the slightest push as the Electricity Reliability Council of Texas (ERCOT) said Tuesday that due to soaring temperatures this week, it expects air-condition use in Texas to climb to a record 80.3 gigawatts on Thursday and even higher on Friday. Prices retreated slightly according to longer term forecasts, as cooler temperatures are set to return for the eastern and western U.S. next week. Tomorrow is the weekly release of the EIA storage inventories report, and the consensus is looking at an injection of 94 Bcf.