We are half-way through December, and only have a week and a half of trading left for the January front month contract. After Wednesday and Thursday’s rally and Friday’s big sell-off, the contract opened today even lower than Friday’s close at $3.21 USD/mm, and only drifted up 5 cents throughout the day.

Some interesting weather is coming for the rest of December. Current temperatures are very warm (here in the GTA it is even up to 7°C). In the coming days, there is a strong probability for above average temperatures in the Western half of the States, and for below-average temperatures along the East coast. Then, the East coast will warm back up to normal or above normal levels.