April 1, 2014
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- NYMEX trading during the last week of March was dominated by the never ending winter and expiration of the April 2014 futures contract as the prompt month
- April expired at $4.584 per MMBtu. Even though that featured a gain of more than 18 cents on the day, the expiration is a relief considering the volatility in the prompt month of late. For reference, January expired at $4.407, February at $5.557, and March at $4.855.
- The reason why the NYMEX is not retreating further is because the winter seems to keep on coming. Multiple cities in the Midwest and Northeast saw snow on the ground at some point during the final week of March.
- Analysts continue to monitor storage to see exactly where the season will end. As of last week, we are below 900 BCF as you can see in the storage graph to the right.