Happy Friday everyone! Time has really flown by as we welcome mid-October.
A couple of different things have happened today resulting in some ups and downs. Additional demand has been added to reflect a colder forecast, but a warm November start is still on the horizon. In fact, the adjustments to the forecast weren’t enough to prevent a pretty steep drop in November prices this afternoon. The sunken barge near the Cameron liquefied natural gas facility is proving to be a bigger problem then expected. News has been floating around that it could take up to three weeks to clear, meaning three weeks of reduced natural gas feed gas demand while production looks to stay steady or even increase.
All in all, another volatile week has come and gone. We expect the trend to continue for the time being as no one factor dominates the influence on market sentiment. Have a great weekend, and make sure to stay safe and tune back in for more news next week!