Traders started the day off strong with the NYMEX front month rallying $0.10 USD/MMBtu in the early morning. As the day progressed, price dropped slightly, settling at $3.06 US/MMBtu, a $0.06 USD/MMBtu increase over yesterday’s front month.

This price increase was driven in part by the most recent forecasts indicating cooler temperatures
in mid-September with the first 15 days averaging a decrease of -3°C. At the end of the month, we expect temperatures in Ontario to drop to around 15°C. Gas demand will slowly ramp up as the month rolls through. (PB)