The front month stabilized around $2.63 in the morning before shooting upwards to $2.67, up almost 0.56% from its previous settle.
The rest of the forward curve was quick to follow, and as a result, 2021 contracts have increased an average of 0.4%. This comes ahead of tomorrow’s storage report – G&A expects a withdrawal of around 70 Bcf.
Withdrawals are anticipated to become less severe going forward as we progress further and further into the shoulder season.
Source: Gelber & Associates
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