Some volatility today as the NYMEX front month contract opened at $3.19 USD/mm, swung down to a low of $3.07, then came right back up to where we started at $3.19. December trading so far is looking like a sideways market now that temperature forecasts are more mild.

An early forecast for the upcoming storage report is a hefty withdrawal of -138 bcf. This reporting period is for the week ending Dec 6, which includes the brief cold snap that moved across the US. If accurate, this flow demonstrates the scale of heating demand at the time. To compare, the previous week came in at a withdrawal of -30 bcf, and the 5-year average for this period is a withdrawal of -71 bcf.