Happy Monday
It was a quiet, yet rather volatile start to the week, with the NYMEX December front month contract opening high today at $2.92 USD/mm, selling off to $2.83 in the morning, then rallying up to close at $2.96.
Seems like traders are unsure where to take this market as storage fills up and cold weather approaches. It won’t yet get too cold here in Ontario, but see how below-average temperatures will soon creep across the Northern/Central Western US in NOAA’s temperature outlook. This outlook is becoming more and more blue.
The remnants of Sara have dissipated, and no other tropical storms have been brewing up since Friday.
[WFG, FM]