Commodity Market Report
North America gas markets weekly update: Nervously awaiting the next GFS
Report summary
Inventories are still at 15 year lows, but a mild ten day weather forecast has brought prices down 50 cents from the highs of a couple weeks ago. After the big nosedive in prices, it is hard to believe that the January contract is more than $1.10 higher than it was November 2. The front three months of the gas curve is tightly linked to weather forecast now. The back nine is still highly sceptical of any long term tightness. The April contract is still at $2.90.
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