Tuesday, November 14th saw the front-month NYMEX Natural Gas Futures Contract open at $3.151, nearly five cents below Monday’s closing price of $3.197. Moving gradually higher to peak at an intraday high of $3.203 at 10:45AM, traders worked to balance updated weather forecasts and news of a minor disruption at the Freeport LNG facility on Monday. Withdrawing to trade near $3.155 through midday, the contract stepped lower as the afternoon drew on. Marking the intraday low of $3.086 at 1:40PM, December closed lower on Tuesday at $3.106.
The EIA Natural Gas Storage Report for the weeks ended November 3rd and 10th will be published on November 16th to complete a planned systems upgrade. The report for the week ended November 3rd is expected to show a four BCF injection to storage. This compares to a 79 BCF injection at this time last year and a five-year average injection amount of 36 BCF.
As of 6:35AM EST this morning in Globex, WTI Crude was down 52 cents; Natural Gas was up seven cents; Heating Oil was down two cents; and Gasoline was down two.
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