Quiet day as the market catches its breath after yesterday’s big move. 

The NYMEX December front month contract traded briefly below yesterday’s low but bounced up a few cents to $2.85 USD/mm.  We are still well above the Oct 21st low of $2.71.

The rest of winter strip (December to March) followed the same pattern and was $2.94 last.  Next summer 2025 was down 1 cents to $3.01.  I’m watching the Oct 21st low of $2.95.

The NYMEX November contract expired today at $2.346.

Most likely quiet this week since it is the end of the month and traders have balanced their books and won’t want to change that.  Look for a better indication of direction next week.  (Unless something happens…)

The weather is still going to be warm until the first week of November but look for more seasonally average temperatures after that. 

With this warm weather, look for a solid amount of gas to be injected into storage.  The early prediction is for the EIA to report +76 bcf for the week ending Oct 25th.  Last week, the injection report was +80bcf. 

The NOAA Hurricane Center is monitoring an area of disturbance in the Caribbean Sea south of Jamicia that they feel has a 40% chance of developing into a named storm in the next week.

[WFG]