NYMEX Natural Gas Futures Contract Prompt month Oct23 settle +US$0.135/MMBtu at $2.743, low of $2.604, high of $2.782, traded range of $0.178. Winter 2023 +$0.043 at $3.43, Summer 2024 $0.033 at $3.234.
Market Fundamentals NYMEX natural gas prices finished +5.2%, the largest one-day gain since August 9th, 2023. Bullish sentiment today comes in anticipation of Thursday’s EIA storage report. Early estimates have another smaller than normal injection which would look to narrow the inventory surplus from 7.6% above normal to possible just 6% above normal. This week report looks at the week ending September 8th, 2023 which recorded much-hotter-than-normal temperatures in Texas.