NYMEX Natural Gas Futures Contract Aug23 prompt month settlement -US$0.028/MMBtu at $2.685, low of $2.664, high of $2.767, traded range of $0.103. Summer 23 -$0.021 at $2.722, Winter 23 +$0.015 at $3.563.

Market Fundamentals Supply and demand balances continue to push prices around as we enter the new week with a bearish mindset. Previous summer heat forecasts are now showing cooler temperatures going into August, with a final peak expected this Friday. Weekend production also rebounded to the 101 Bcf/d mark, although volumes will probably drop given weekly maintenance commencing tomorrow. Similarly in Canada, temperatures for the 29th onward are showing a significant change in the forecast to the cooler side.

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