NYMEX Natural Gas Futures Contract Prompt month Nov23 settlement -US$0.033/MMBtu at $3.344, low of $3.299, high of $3.428, traded range of $0.129. Winter 23 -$0.017 at $3.637, Summer 24 +$0.011 at $3.451.
Market Fundamentals Natural gas continues to trade range bounded. Today’s highlight was the 10:30 AM release of the EIA Storage Report. While industry consensus came in at an average of an injection of 90 billion cubic feet (Bcf), a median at 89 Bcf, and a range of 77 Bcf to 105 Bcf. The actual injection came in at 84 Bcf. Although smaller than expected, the market responded with a quick spike to the high of the day, but returned to trade at the mid-$3.30s almost immediately.