NYMEX’s front month of August started off today at last week’s settlement of $3.110 US/mm, and kept dropping – and is $3.009 US/mm at the time of writing, nearing the $2.00 US/mm territory. The overall market sentiment remains bearish as we near the last day of trading for August tomorrow. This is in stark contrast to what August was trading at during the start of the month at ~$3.70 US/mm, and we can see these ripples in the Dawn markets in both cash currently and Dawn’s front month settlement.

Although there is a heatwave currently hitting the Northeastern US, weather has overall calmed down quite a bit since the beginning of the month and temperatures in the rest of the states are expected to remain near-normal going forward.

Have a great week all! (AA)