The prompt month November 2022 NYMEX contract climbed to an early high of US$6.803/MMBtu this morning, but trended downward for the day,settling down $0.161 at $6.435. Early upwards momentum was due to weather forecasts hinting at a cold couple of days out of this weekend into next week. It ultimately wasn’t enough to keep the momentum going though and the trend of wide intraday swings continue. Tomorrow marks another EIA storage release and another big injection is expected. As a reminder, last week came in at 129 billion cubic feet (Bcf), and tomorrow is expected to be close at in around 125 Bcf. ~CL
