LONDON (Commodity Online): Natural Gas generally tracked the larger energy complex on the day as prices tumbled across the board.
The January 2012 contract fell by 14 cents to $3.14/MMBtu, making another record low for its history in just two days.
Calendar 2012 came off 11 cents to $3.40, while calendar 2013 lost eight cents to $4.03. The weather forecast on the day churned out some mixed messages with the morning report showing some warmer temperatures for the 6-15 day period, but the noon update disagreed, exhibiting incrementally colder weather for the same period.
The market, on average, expects a withdrawal of 88 Bcf for Thursday's weekly storage report. The consensus, however, is much lower than the actual withdrawal (164 Bcf) for the same week last year.
Cash prices fell across the board with Henry Hub down by three cents to $3.08. Socal Border shaved off a penny to $3.55. Transco-Z6 (NY) dropped by ten cents to $3.35.
