As the week ends, we bid farewell to the Oct-25 NYMEX contract. After positions were liquidated on this final day of trading, the Oct-25 contract settlement price was $2.87 USD/MMBTU, $0.05 USD down from yesterday. Turning our gaze to the November contract, we saw an elastic day with moves into the positives and negatives before ultimately settling flat to yesterday at $3.20 USD/MMBtu.

The current market pricing in November and December indicate traders are leaning towards a bearish winter, but it is important to remember that sustained cold can quickly change sentiment. As mentioned yesterday, we see potential heating demand in Canada during the second week of October. Nothing cold enough to devastate the market but signs of potential support, especially for an AECO market that has priced negative in cash for the last four days. (PB)