It was another fairly quiet end to the week today. The prompt month October NYMEX contract traded within a US$0.317/MMBtu range, hitting a high of $8.205, a low of $7.888 and settling at $7.996, which effectively undoes the drop yesterday. On the horizon as we transition from the summer to fall and winter, weather is expected to aid in lessening Lower-48 demand by around billion cubic feet (Bcf), which paired with no reduction in production will look to help narrow the existing storage deficit and ease some pressure of prices. However, other factors are still on the watch, such as hurricanes (currently three developing but not expected to affect the U.S.), LNG (Freeport’s still out and other plants have some maintenance going on), and overall market position (according to analysts, it’s pretty oversold right now, hence the low prices). ~CL

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