The October contract experienced some large swings on Thursday, as it finally settled 0.1% higher at $3.498 per mmBtu. When the EIA natural gas storage report was released at 10:30 a.m. E.T., there was a significant sell-off and the October contract dropped as low as $3.402, but rebounded in the afternoon to settle $0.5 cent higher. The October contract expired about 2% lower than the September contract settlement and 2013 is currently averaging $3.651 per mmBtu. Much of the rebound on Thursday appeared to come from some profit taking and traders covering short positions ahead of the October contract’s expiration. With mild weather forecast into October and a quiet Atlantic Ocean, there is little support coming from the weather factor. The winter strip and the CY2014 strip continue to average below $4/mmBtu.