NYMEX Natural Gas Futures Contract Prompt month Sep23 settlement +US$0.022/MMBtu at $2.519, low of $2.425, high of $2.565, traded range of $0.14. Winter 23 +$0.024 at $3.529, Summer 24 +$0.009 at $3.271.

Market Fundamentals With news of Australian LNG strike concerns being resolved, prices started the day off by continue to trend lower. The bearish momentum was short-lived today though following the U.S. EIA’s 10:30AM storage report. This week’s average industry estimate came in at an injection of 31.3 billion cubic feet (Bcf), with a range between 25 to 39 Bcf. The actual number came in at an injection of 18 Bcf, significantly smaller than expected. This led to the market jumping up over $0.10 to return to early yesterday’s levels. The South Central region recorded a withdrawal of 21 Bcf during peak temperatures last week.

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