What was up on Thursday has now reversed today. The NYMEX futures contracts are down with the Summer 25 strip trading $2.20 US/mm & Winter 24/25 at $3.38 US/mm.
Front Month Natural Gas has been trading below $2.00 US/mm for a while now because of good supply and low consumption…. and low prices bring CAPEX cuts and curtailed production. We know how this story will end, we just need to discover the when and the path the market will take.
So expect this whippy price actions to continue and enjoy the journey until the market decides.
Have a great weekend. [WFG]