A busier day to end the week, and looks like it wasn’t just us; the NYMEX rallied 20 cents in the front month, June settling at $3.795 US/mm. A pretty aggressive rally considering the low demand, mild temperatures, and ample amount of gas in storage, but so it goes. Even Dawn has reported that there’s been a high demand for storage space lately, so much that they may have to prioritize availability. There is some talk of pressure among traders to keep pushing this bullish momentum in the short term, but ultimately the fundamentals paint a softer picture. The switch from heating degree days and cooling degree days will likely happen next week. Production in the lower 48 is still chugging along, and gas is still flowing to LNG export plants (except Freeport). It shouldn’t be a very eventful weekend, so we’ll see how the market moves on Monday.

Have a good weekend!