NYMEX Natural Gas Futures Contract Prompt month Oct23 settlement +US$0.134/MMBtu at $2.796, low of $2.647, high of $2.808, traded range of $0.161. Winter 23 +$0.091 at $3.561, Summer 24 +$0.039 at $3.282.

Market Fundamentals After an initial bearish start to the day, prices rallied hard upwards with Oct23 taking most of the gains. Excessive heat expectations in the central and eastern U.S. by the end of the week was enough for traders to change their sentiment with expected increased natural gas demand from electricity providers. Tomorrow will most likely be another highly volatile day as the Thursday EIA storage report looks to come out. Early consensus from the industry looks at an injection of 26 Bcf, but we could see a smaller number if last weeks trend continues (18 Bcf actual vs. 31 Bcf consensus).

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