Earlier this week the NYMEX natural gas futures contract for December rolled off and the January contract became the “front contract” being traded. The latest storage numbers–how much gas has *not* been withdrawn from storage–combined with weather forecasts and computerized trading to hammer prices. Natgas was down 10 cents on Wednesday, and down another 27 cents yesterday, for a combined 37 cent loss over the past two days. Yuck. But it’s not all bad news, at least here in the Marcellus/Utica.
Earlier this week the NYMEX natural gas futures contract for December rolled off and the January contract became the “front contract” being traded. The latest storage numbers–how much gas has *not* been withdrawn from storage–combined with weather forecasts and computerized trading to hammer prices. Natgas was down 10 cents on Wednesday, and down another 27 cents yesterday, for a combined 37 cent loss over the past two days. Yuck. But it’s not all bad news, at least here in the Marcellus/Utica.