NYMEX Natural Gas Futures Contract Aug23 prompt month settlement +US$0.062/MMBtu at $2.73, low of $2.63, high of $2.65, traded range of $0.12. Summer 23 +$0.05 at $2.73, Winter 23 +$0.03 at $3.581.
Market Fundamentals Markets remained strong even though maintenance continues within the producing regions. According to a number of pundits, we are likely to see the 2023 Winter remain range bound between $3.00 and $5.00. With 570 BCF of additional gas in storage verus last year we are truly waiting to see how the weather demands follows through. LNG will be more of a factor in 2023 – 2024 as international markets pull more supply from North America. This will be our first real winter with LNG production remaining in the 10 BCF per day range.