December natural gas prices continued yesterday's decline in overnight action and broke down to a new five day low in the process. While Hurricane Sandy has reached category 2 status near Cuba, forecasts indicate a northeasterly track along the US east coast. The latest six to 10-day weather maps show a larger area of below normal temperatures in the eastern half of the US, and that could be offering a measure of support. Expectations for this morning's EIA storage report are for an injection of around 65 bcf, which comes in below the same week last year of 95 bcf.


View All Market Commentary

*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.

 

Copyright CME Group All rights reserved.