NYMEX Natural Gas Futures Contract Aug23 prompt month contract settlement -US$0.026/MMBtu at $2.603, low of $2.584, high of $2.65, traded range of $0.07. Summer 23 $0.03 at $2.62, Winter 2023 +$0.03 at $3.45

Market Fundamentals Natural Gas markets were somewhat range bound all day. The estimated EIA storage injections are expected to be in the 48 BCF range in comparison to last years injection of 35 BCF. Market remains 24% more inventory in the ground in comparison to last year. Storage is like a sponge, once you soak too much gas into the caverns, less inventory can be injected. We will start to reach that point by mid to late August 23. Even with hotter days in the southern US, we continue to witness average overall demand. (RS)

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