Hi all, it’s been a pretty interesting start to the week especially as this northeastern heatwave really kicks in, we are starting to see more bullish pricing from a more local perspective as this heat kicks up electricity demand for cooling, Dawn cash prices have begun to rally back up as expected – the only question that remains is to what degree. In the world of NYMEX natural gas, we finally see the front month of September stay comfortably below that $3.00 US/MM benchmark, as it opened today at $2.990 US/MM and closes at $2.954 US/MM, we saw some bearish activity but nothing of significant note, only to the tune of about ~$0.034 US/MM.

As a note, Dawn injections and withdrawal are about flat, so expect some pressure on Dawn cash pricing as we roll into withdrawal season. (AA)