December NYMEX Natural Gas Futures Contract Closed at $2.973 on Monday, November 18th

Monday, November 18th saw the front month NYMEX Natural Gas Futures Contract open at $2.854, up $0.031 compared to Friday’s closing price of $2.823. Recovering from a brief dip to the intraday low of $2.832, updated forecasts for increased weather driven demand to close out the month provided support as the contract rose to $2.920 by midday. Achieving an intraday high of $2.977 ahead of 2:30PM, December closed higher on Monday at $2.973.

The EIA Natural Gas Storage Report published last Thursday showed a 42 BCF injection to storage for the week ended November 8 – in line with the market estimate of a 41 BCF injection. Total working gas in storage was reported as 3,974 BCF; 4.1% above this time last year and 6.1% above the five-year average.

As of 6:50AM this morning in Globex, WTI Crude was down $0.540; Natural Gas was up $0.090; Heating Oil was down $0.014; and Gasoline was down $0.013.

                                                                                                       
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.

Share:
RSS
Follow by Email
Facebook
X (Twitter)

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.

Related Articles

The Oil Market Weighed the News of Norway’s Oilfield Restarting Operations

November 20th, 2024
December NYMEX Natural Gas Futures Contract Closed at $2.998 on Tuesday, November 19th

November 20th, 2024
News of a Halted Oil Output at Norway’s Johan Sverdrup Oilfield

November 19th, 2024
Economic Trends in the U.S. and China Threaten Global Demand

November 18th, 2024
December NYMEX Natural Gas Futures Contract Closed at $2.823 on Friday, November 15th

November 18th, 2024
A Stronger U.S. Dollar and Concerns Over Slow Demand Growth

November 15th, 2024
December NYMEX Natural Gas Futures Contract Closed at $2.785 on Thursday, November 14th

November 15th, 2024
900 Degrees Neapolitan Pizzeria Finds the Perfect Energy Partner in Sprague

November 14th, 2024
Prices Continued to Trend Lower in Follow Through Selling

November 14th, 2024
December NYMEX Natural Gas Futures Contract Closed at $2.983 on Wednesday, November 13th

November 14th, 2024