After rallying to a recent high yesterday, natural gas undid the climb and fell significantly all throughout the day. The prompt month December 2022 NYMEX contract settled down US$0.641/MMBtu at $5.714. Much of the move appears to be attributable to a warmer weather adjustment in the forecasts. Additionally, a 100 billion cubic feet injection is expected into this week’s storage, which would aid in narrowing the still existing deficit to last year. ~CL
