NYMEX Natural Gas Futures Contract Aug23 prompt month contract settlement -US$0.006/MMBtu at $2.539, low of $2.492, high of $2.606, traded range of $0.114. Summer 23 $0.002 at $2.567, Winter 2023 +$0.006 at $3.474.

Market Fundamentals Markets continued to be on the downtrend all this morning to hit a one-month low as pipeline infrastructure to LNG facilities and rising output looks to offset expectations of higher cooling demand. As per usual though, late Friday afternoon showed some volatility right before the settlement as the U.S. Baker Hughes rig count report came out. Following last week’s surprise climb of 11 rigs, natural gas rigs fell by 2 and led to a $0.05 rally from the low to end of this trading week.

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