NYMEX Natural Gas Futures Contract Prompt month Oct23 settlement +US$0.084/MMBtu at $2.728, low of $2.60, high of $2.741, traded range of $0.141. Winter 23 +$0.052 at $3.38, Summer 24 +$0.051 at $3.224.
Market Fundamentals After looking to trend lower early in the morning, natural gas prices had a strong finish to the day. Gains were felt across the energy space today as oil hit new 2023 highs and fuel-futures rose as well. Looking ahead, the EIA monthly Drilling Productivity Report (DPR) sees U.S. production from the nation’s seven top shale regions declining slightly next month, indicating actual production volumes are finally declining in line with the decreased rig count.