The October 2015 natural gas contract rolled off the board at $2.563 per MMBtu on Monday. Traders pushed the contract as high as seven cents above its Friday’s close, but finally reversed and settled nearly unchanged from the previous trading day’s settle. November moved into the prompt month position and during its first week has declined about 8%, closing out the week at $2.451 per MMBtu. Bearish news continues to dominate this market and the bulls have failed each attempt to carve out a bottom and reverse this market higher. As we head into winter, the focus will be on the season ending storage level and winter weather forecasts. The CY2015 NYMEX settlement is now averaging $2.773 per MMBtu, which has dropped below the 2012 annual average of $2.789 per MMBtu.
