Friday saw prices rise from 830am to 945 and then sell off from 1045 to Noon. The May contract was flat in the afternoon and closed out the week about 1 cent above Thursdays close.
The NOAA 8-14 day forecast shows anticipated higher than normal temperatures in the middle of the lower 48 (i.e. less heating demand).
The NYMEX rest of summer strip (May to October) ended the week at $2.24 US/mm and next winter at $3.40 US/mm. Both unchanged for the week.
Looking ahead to when the May contract expires, the rest of the summer strip is June to October ended the week at $2.34 US/mm, or middle of the April range.
I hope you all have a good weekend. [WFG]