May 25 2024 Market Update

Quiet day that started the morning at the lows but then slowly worked it’s way higher.  NYMEX July future started at 730am at $2.74 US/mm and worked up to the high $2.844 by 2pm.

The rally was attributed to the prospect of air conditioning demand from a warm summer.  Of course, the June contract expires this week, and traders are also balancing their books for month end.

At 4 pm, July was up almost 6 cents and was trading $2.83 US/mm.  The rest of summer strip was trading $2.86 and next winter was $3.57.

Yesterday was an exchange holiday so yesterday’s price data will be tacked onto today’s bar in the charts.  This can be a bit confusing if you are following the prices closely, but we don’t feel following each tick is the way to purchase natural gas.  [WFG]

Scroll to Top