Start of the Winter Contracts

Weekly Continuation

A wild week for gas prices as prices started weak and tested the lows from late July, trading down to $1.795, then finding support and rallying prices back up to the initial support from the collapse the week before at $2.275. While prices pushed above that level briefly, they settled the week backing off.

While prices have had a wild ride with the October contract ($.53 range between high and low), the same cannot be said for the November contract ($.41 range). The premium afforded to November expanded and is approaching an extreme level.

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