$30 u.s. maybe. Strange to see a higher number on American exchange as it's $29.16 CDN. I don't think we'll see a huge draw down this week but I a good draw down, remember numbers are a week behind so that includes a couple of warm days in northeast last week but next one will probably be a huge as cold snowy weather has hit entire North America.
That is strange... but its also strange that its trailing peer average group (from my quick glance) in US by at least 3-4% over the past week as well.
We could be surprised.. the draw could be strong but even the draws haven't really moved spot much over the past little while since its primarily heating oil demand with this weeks storms in the N.East and not so much nat-gas. Seasonality is playing out as usual though.
As long as it stays above $4.50 for both Q1, we should be able to achieve these "long risky stretch targets" that analysts have been revising downwards over the last week. Maybe CIBC is the only one that really knows whats going on as I like their downward revision from $37 to $36 best. If a 6% correction comes in, this one is a no-brainer.