Another big sell off to close out the week. NYMEX futures prices dropped another -4.3% on average across the curve, marking an 11-week low. Although there is still cooling on the way for most of the US in the 8-14 day period, the market is clearly showing confidence in storage and the especially strong production this winter. Here up north, Canadian temperature estimates are increasing, driven by gains in Alberta, but the variability this time of year makes it difficult to know if this will hold going into late January, or if the cold snap will hit the southern Ontario as hard.

Have a good weekend!