View Archived Market Commentary:
- The market had a short week due to the holiday on Friday. After a relatively quiet start the NYMEX picked up on Thursday breaking into the 4.70’s in both the prompt month and 12 month average.
- Forecasts have started to warm in several models with only a few pockets of cooler than normal weather in various parts of the country
- Another injection brings further confirmation that the withdrawal season has come to a close. Injections will need to average around 100 BCF to close the deficit to the 5 year average by winter.
- Thursday’s injection of 24 BCF was below expectations and a 21 cent jump in the prompt month was quick to follow. The 12 month average gained just over 16 cents on the day as well.
The comments made above regarding the NYMEX futures market are the sole opinion of the author, not necessarily the opinions of Interstate Gas Supply, its officers or its employees. Information provided in this “Market Update” is for illustration purposes only, and neither the author nor Interstate Gas Supply shall be liable for any information contained herein.
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