NYMEX Natural Gas Futures Contract Prompt month Sep23 settlement +US$0.039/MMBtu at $2.579, low of $2.544, high of $2.695, traded range of $0.151. Winter 23 settlement -$0.046 at $3.538, Summer 24 -$0.024 at $3.272.
Market Update Volatility continues as the Sep23 NYMEX natural gas contract looks to expire tomorrow. Prices rallied early on in the day on the news of higher demand from prolonged heat into next month and higher European prices due to a receipt LNG facility looking to begin operations later than expected. Further bullish momentum was ultimately capped though as the focus shifts to Tropical Storm Idalia. It is expected to reach hurricane strength prior to making landfall in Florida on Tuesday or Wednesday which would look to affect demand first, and then potentially production. Last year when Ian made landfall, rain and flooding led to demand destruction that would look to be repeated with Idalia.