The northeast production area seems to continue to remain extremely strong as it has hit an all time record boasting natural gas supply over 21 Bcf per day of this past week (11/20/2015). Now, with warmer weather slated of the week of Thanksgiving, continued production (and no weather), could cause “cash” pricing to tumble and thus yield prices that haven’t been seen in a long time.
The kicker will be “IF” the weather doesn’t show up during the middle of December, then we could be looking at an absolute slaughter, not only in the cash market but also in the forward futures market. This could show us an sub-$2.00 NYMEX settle to kick off the New Year.
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