Happy Expiry Day
The May contract goes off the board at $1.59 US/mm, which is the lowest since 2020. June traded down to $1.91 US/mm, which is the same level as the April 16 low, the low of the contract.
The rest of summer strip traded $2.31 US/mm and next winter traded $3.41, both down.
The bigger than expected storage injection is still weighing on the market as traders think about all that gas in storage already. The warmer than expected weather over the next two weeks will reduce heating demand but is not warm enough to create air conditioning demand.
Have a great weekend. [WFG