November NYMEX Natural Gas Futures Contract Closed at $5.867 on Thursday, September 30th

Thursday, September 30th saw the front-month NYMEX Natural Gas Futures Contract open at $5.637, sixteen cents above Wednesday’s closing price of $5.477. Falling to an intraday low of $5.496 by 10:00AM, the contract rose to $5.535 ahead of the weekly storage publication. Surging higher as the report hit the wire, prices rose to $5.777 at 11:20AM and quickly retreated to the $5.600 level ten minutes later. Posting another ascent that would span the afternoon, November marked an intraday high of $5.895 before closing higher on the day at $5.867.
 
The EIA Natural Gas Storage Report published on Thursday showed an 88 BCF injection to storage for the week ended September 23 – in line with the market estimate of 86 BCF.  Total working gas in storage was reported as 3,170 BCF; 15.4% below this time last year and 6.3% below the five-year average.
 
As of 6:30AM EST this morning in Globex, WTI Crude was down 48 cents; Natural Gas was unchanged; Heating Oil was down one cent; and Gasoline was up slightly.
 
Natural Gas Glossary
Natural Gas Supplier
                                                                
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
 
 

This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.