April 21, 2014
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- 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.