February 23, 2024 Market Update

NYMEX Natural Gas Futures Contract  Winter 24, only the March contract now, settled at $1.603USD/M and Summer 24 settled at $2.18 USD/M up from last week.

Shifts in weather patterns continues to affect the summer pricing models. Domestic production remains stable as we move through the latter part of winter. The average temperatures remain relatively close to the winter of 2022. Exports are currently behind for this time of year causing prices to remain soft for the balance of the month. Forward prices are lower than the cash prices due to weaker demand. Enjoy the sunshine. (RS)

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