NYMEX Natural Gas Futures Contract Prompt month Oct23 settlement -US$0.115/MMBtu at $2.733, low of $2.693, high of $2.824, traded range of $0.131. Winter 23 -$0.066 at $3.305, Summer 24 -$0.042 at $3.18.
Market Fundamentals Sentiments regarding weather and fall temperatures continue to drive natural gas prices around the bend. After climbing to a 6-week high yesterday, the Oct23 fell 4% today as the switch from cooling to heating demand continues to fluctuate. While air conditioning needs fade away, the currently mild temperatures will push back the start to heaters being turned on, therefore reducing any additional demand for the time being. High inventories also continue to paint a bearish picture as the industry awaits the EIA storage report tomorrow.