Happy Thursday everyone! Today marked a rather flat trading day between a low of US$3.801/MMBtu and 3.931 before settling the day at 3.812. The U.S. Energy Information Administration’s (EIA) Lower-48 natural gas storage balance report was released today as per usual at 10:30AM. While the industry estimates ranged from a withdrawal of 27 billion cubic feet (Bcf) to 83 Bcf, the actual number came in at a withdrawal of 31 Bcf. Although this news is considered bearish, markets only fell to the low before rebounding. Although the daily trading ranges continue to stay quite wide, the bigger picture still appears rather stable with prices trading in the high three dollars. We will have to play the waiting game with the projected colder weather to see just how high prices can go. ~CL

Scroll to Top