Michael Fitzpatrick Week Quotations

Milder weather forecasts for this week and extraordinarily high stockpiles continued to weigh on sentiment.

Relatively moderate weather, ample supplies and an escalation in the dispute over Iran's nuclear program should make for another week of high volatility. Absent geopolitical uncertainty, prices should be moving lower.

After a mild start to the week, temperatures in the Northeast and Midwest, key gas consuming markets, were expected to cool to below-normal later this week and next week.

The weather will be more seasonal over the next week but it will take much more than that to put a dent in supplies.

Still, brimming stocks should keep any rally in check, late week cold notwithstanding.