December NYMEX Natural Gas Futures Contract Closed at $5.684 on Friday, October 28th

Friday, October 28th saw the November NYMEX Natural Gas Futures Contract open at $5.720, fifteen cents below Thursday’s closing price of $5.875. Tallying an intraday high of $5.783 within minutes of the open, the contract traded along either side of $5.725 until trending lower at 10:00AM. Marking an intraday low of $5.547 at 11:25AM, weather forecasts continue keep the bulls at bay. December closed lower on Friday at $5.684.

The EIA Natural Gas Storage Report published on Thursday showed a 52 BCF injection to storage for the week ended October 21 – below the market estimate of 58 BCF. Total working gas in storage was reported as 3,394 BCF; 4.0% below this time last year and 5.5% below the five-year average.

As of 7:20AM EST this morning in Globex, WTI Crude was down $1.37 cents; Natural Gas was up 61 cents; Heating Oil was up four cents; and Gasoline was down one cent.

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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.

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