To finish off the week, NYMEX gas futures remained pretty steady until rallying later in the day, the July front month currently trading $3.80 US/mm. There hasn’t been much fundamental news circulating and the volume traded is relatively small, so this move is likely futures traders pushing the market around before the weekend. US temperatures aren’t quite hot enough for the explanation to be cooling demand, and although production in the US did dip earlier this week, it has since jumped back up to about 104 Bcf/d. With the large storage injections too, the overall picture is a comfortable one for this time of year.

Have a good weekend!