NYMEX Natural Gas Futures Contract Jul23 prompt month +US$0.099/MMBtu at $2.632, low of $2.522, high of $2.653, trading range of $0.131. Summer 23 +$0.105 at $2.722, Winter 23 +$0.056 at $3.605.
Market Fundamentals Prices continued to climb today following the Commodity Weather Group’s statement that scorching temperatures are expected in Texas, the largest gas-consuming state. Additionally, Baker Hughes reported that the number of active U.S. nat-gas drilling rigs in the week ended June 16th fell by 5 to hit a 15-month low of 130 rigs. The emphasis on tracking production volumes continues to be a key factor.