NYMEX Natural Gas Futures Contract Oct23 prompt month settlement -$US0.003/MMBtu at $2.765, low of $2.735, high of $2.86, traded range of $0.125. Winter 23 -$0.044 at $3.511, Summer 24 -$0.005 at $3.27.

Market Fundamentals Although prices rallied up during the beginning of the day, they ultimately came down settling close to unchanged to yesterday. Hotter temperatures continue to keep prices somewhat elevated. Baker Hughes reported today that the number of active U.S. natural gas drilling rigs for the week fell by 1 to a 19-month low of 114 rigs. A year ago, active rigs rose to a 4-year high of 166 rigs. Still, active rigs have more than doubled from the record low of 68 rigs posted in July 2020.

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