We saw a 91 BCF injection into natural gas storage today. This was just a few BCF higher than the expected 89 BCF. The market rallied a bit, but the NG NOV 10 contract settled down 3.9 cents on the day, closing at $3.657 per MMBTU. As I have been saying the last couple weeks, I don’t expect any real action until we hit the November elections.
Another week for commercial and industrial business electricity users to lock in now before the elections, lame duck session, and the onset of winter.