We may have stemmed the tide.
The analysts were looking for a build-up in the natural gas storage numbers in the report that came out this morning of around 50 bcf. It came out as a plus 49 so it was as expected.
The current contract was up about 1.5 cents before the report, and was up about 1.5 cents after the report came out. We hit a new high of $4.80 this morning before the report, but it is trading now around $4.71.
It would appear from this week’s trading gas has settled down, and may trade a little lower over the next couple of weeks, barring any new wild weather reports.