Another day, another sell off.

The NYMEX November front month contract sold off 12 cents to $2.39 USD/mm.  We have reached prices that haven’t been seen in the November contract since 2020. The December contract also broke to new local lows and was down 9 cents to $2.85. Chart from TradingView:

The winter strip was down 8.5 cents to $2.84.  It is important to note that this is well beneath the local low set in August and September. Next Summer 2025 strip was down 4 cents to $3.03, but this is still above support at $3.00. 

The big reason given for the sell off is that the weather is expected to be warmer after Friday for the rest of October.

The EIA storage report for the week ending October 11th is expected to show an injection of +68bcf. Stay tuned.