LONDON (Commodity Online): US gas prices faded shortly after the open of the trading session, with the front of the curve registering most of the bearish mood, in a continuation of the recent trend lower.
The prompt contract shed seven cents, to $3.73 per MMBtu, while calendar 2012 fell two cents, to $4.37. In a mostly news-less day, the market may be preparing itself for a bearish storage number tomorrow.
Tropical storm Ophelia appears to be heading too eastward to affect markets. Cooler eastern weather is continuing to offset a warmer West in the forecast. Cash markets were more bearish than futures, against a backdrop of fairly directionless trading.
Henry Hub fell 12 cents, to $3.72. SoCalBorder notched seven cents lower, to $4.02, while New York (Transco-Z6) slid five cents, to $4.02.
