EIA storage numbers were almost double forecasted: The consensus expected an injection of 14bcf and instead the EIA announced an actual injection of 24bcf.
The NOAA 6-10 day forecast is for above average temperatures in the northeast and southeast, so not much heating demand.
Not a surprise that the NYMEX front month contract, which hit a one month high yesterday, has sold off hard. The May 2024 went from a high today of $1.892 US/mm to a low of $1.754 US/mm.
The NYMEX Summer 24 Strip is $2.25 US/mm while the Winter 24-25 strip is $3.40 US/mm. [WFG]