October 25, 2024 – Market Update

Happy Friday

After the big rally yesterday, the market is taking a breather.  It is slightly down on the day in quiet trading.

The November contract will expire next week so the December contract is considered to be the front Month now.  As of 1pm, the NYMEX December front month was down 2 cents to $3.00 USD/mm.  The winter strip is holding below the $3.00 level at $2.99.  Next summer strip is holding above the $3.00 level at $3.10.

Overall, I would say that we have to wait until Monday to see if the market continues to rally.  The weather is not showing a lot of heating demand yet as the NOAA 6-10 day forecast is for above average temperatures for the eastern half of the US. Hopefully it will be nice for Halloween. [WFG]

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