NYMEX Natural Gas Futures Contract Jan 24 contract settled $2.419 USD/M up $0.091 from yesterdays close; Winter is settled at $2.367 up $0.091 from yesterdays close and Summer 24 settled at $2.598 up 0.099 over yesterdays close
Market Fundamentals – Markets have reversed the falling trend over the past two days. It could have seen the bottom for prices in 2023, as we come to a close trading over the next week. The market continues to remain strongly active with hedge fund managers accounting for about 25% of the volume followed by speculators. This is clearly a sign of profit taking before liquidity becomes weaker. Take care.