The prompt month NYMEX natural gas contract settled up US$0.306 at $6.741. The rally upwards happened predominantly in the afternoon with the contract actually trending downward in the morning. Today marked a U.S. EIA storage release with the number coming in at 125 billion cubic feet (Bcf). As mentioned previously, given we are in the shoulder season, with less demand both from regular consumption and the impacts of Freeport LNG being down and Hurricane Ian last week, the number is large but still within analyst estimates. For the next two weeks to come, the market is expecting between 98 and 108 Bcf for the week ending October 14th and around 70 Bcf for the week ending October 21st. ~CL
