March 24, 2014
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- Trading on the NYMEX has been relatively quiet of late, especially compared to the volatility we endured in February. The largest moves last week was a gain of less than 12 cents on Monday and a loss of less than 12 cents on Thursday. Power markets have similarly experience much of the same reprieve from volatility.
- Thursday’s inventory report revealed a 48 BCF withdrawal. More importantly it brought storage inventories below 1 TCF for the first time since 2003.
- Traders continue to eye the weather forecasts which simply refuse to let winter go away. There is a chance of snow in Dublin, Ohio tonight on March 24, four days following the official start of spring.