The New York Mercantile Exchange (also known as the NYMEX), is an organized market where buyers/sellers trade futures commodities. Further more it’s one of the world largest exchanges for energy and metals, with one of the most common commodities traded being the NYMEX Natural Gas futures market. In fact the NYMEX natural gas market is the third largest physical commodity futures contract in the world by pure volume traded. Which is why there is so much importance regarding NYMEX settlement history.
NYMEX natural gas Prices fluctuate by the second during daily trading hours, and these futures prices set the basis for what consumers will pay for this commodity.