May NYMEX rallied today after the EIA storage report showed a slightly less than expected injection (+50 bcf actual vs +53 bcf expected). However, the market sold off in the afternoon.
Looking longer term, the chart of the NYMEX front month natural gas trading in a range since February.
NOAA 8-14 day forecast is looking for higher than average temperatures in the center of the US. However, the 6-10 day forecast is calling for below normal temperatures in the northeast.
The rest of summer strip is $2.22 US/mm and next winter is $3.39 US/mm.
I hope everyone has a good weekend. [WFG]