Happy Friday the 13th!

This cold snap should be over soon and some warmer than seasonal weather is on the way.

After yesterday’s sharp rally after the big withdrawal from storage, today’s market sold off. The NYMEX front month January contract was down 17 cents to $3.29 US/mm.

The possibility exists that the intraday high of $3.56 we saw in November is the high for the winter season.  Not an unreasonable prospect since we have a lot of gas in storage and expectations are for a warmer than average winter. I think that the lesson of 2024 is that producers have developed discipline and any sell off this winter will be met with a reduction in production.

Have a great weekend.