September 29, 2014
- Trading on the NYMEX natural gas futures market was steadily bullish throughout the week. The prompt month gained 11.1 cents on the week and the 12 month average followed suit gaining 10.1 cents.
- As expiration drew near the prompt month Oct-14 contract made one final attempt at breaking $4.00. It ultimately failed to do so and the contract expired Friday at $3.984.
- Thursday’s storage report announced that 97 BCF was injected in storage. The market continued to climb despite the fact that the injection was on the higher side of expectations, possibly due to threats of a colder-than-normal winter placing more emphasis on the storage deficit.
- Temperatures continue to oscillate between cool and warm as we enter the final month before the gas-year winter. All eyes will be on these weather forecasts in the very near future as November approaches and the 2014-2015 winter season begins.