NYMEX Natural Gas Futures Contract Prompt month Nov23 settlement +US$0.109/MMBtu at $2.949, low of $2.82, high of $2.96, traded range of $0.14. Winter 23 +$0.078 at $3.309, Summer 24 +$0.048 at $3.213.
Market Fundamentals Natural gas prices undid their fall yesterday by rallying up strongly to round out today. Although still off from the $3 high, prices are strong due to the return of hot weather which will look to prompt some cooling demand, as well as speculative traders looking to enter the market. Many of them believe that natural gas currently trades at a discount given the decreasing storage inventory deficit.