March 20 2024 Market Update

NYMEX Natural Gas Futures Contract  The NYMEX Summer 24 settled at $2.208 USD/mmBtu and the Winter 25 strip is at $3.384 USD/mmBtu.

Market Fundamentals: In North America, seasonal spread makes up the gas prices as gas is stored in the summer and withdrawn from storages. But, due to the flexibility in production of oil to match seasonal changes, the price spread between winter and summer has been slimmer. Due to the high volatility, it is very difficult to predict and capture profit. 

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