NYMEX Natural Gas Futures Contract Prompt month Sep23 contract settlement -US$0.07/MMBtu at $2.551, low of $2.524, high of $2.636, traded range of $0.112. Winter 23 -$0.064 at $3.612, Summer 24 -$0.032 at $3.32.

Market Fundamentals Cooler weather forecasts continue to suppress natural gas prices. Weather coming out of this weekend into September has been taking off heat with each new run, and traders are no longer as bullish. In other news, this week’s Baker Hughes rig count report came in at -6 natural gas rigs to bring the total count in the Lower-48 to 117, the lowest number recorded since January 2021. As per usual, prices rallied slightly higher into the settlement following this news.

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