Natural gas futures for November 2021 expired yesterday, October 27, 2021, at $6.202/MMBtu. For those of you that have been following the energy market, this should come as no surprise.
Earlier today, the Energy Information Administration (EIA) reported a 87 Bcf injection for last week. This injection was in line with estimates and is above the 62 Bcf five-year average. Due to the pending cold weather, natural gas storage withdrawals are targeted to begin starting November 12, 2021.
Weather will be taking a front seat in driving pricing.
Stay tuned for more updates as we continue to monitor to the energy market.