The NYMEX experienced another turbulent day, with the market reaching as high as $3.16 USD/MMBtu in the early morning before reversing to as low as $3.05 USD/MMBtu around noon, eventually settling at $3.12 USD/MMBtu.

Reduced US production remained the driving factor for the market rise. Throughout the summer production has been at record levels helping storage facilities reach above average levels despite a cold winter. On the bear side, LNG export volumes dropped to a 2-week low hurting demand, especially as weather related demand remains largely moderate at this time of year. (PB)