The NYMEX front month December contract fell 20 cents to $3.13 USD/mm as of 2pm EST, but peaked at a high of $3.56 this morning. Quite a volatile way to end the week. The December contract expires on Tuesday, the 26th.
When following the price of this contract (both when considering its increase over the past few weeks, and in watching what happens as its expiration approaches), keep in mind that $3 gas and below for December is actually pretty cheap when compared historically. This week’s rally only caused the price to change from cheap to ‘normal’.
Have a great weekend!