December NYMEX Natural Gas Futures Contracts Closed at $3.555 on Wednesday, November 7th

Wednesday, November 7th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.507, five cents below Tuesday’s closing price of $3.555.  In a volatile day of trading, the contract traded within a five-cent range through the morning, marking the intraday low $3.492 at 11:40AM, before recovering into the afternoon.  Marking the intraday high of $3.560 at 2:20PM, as traders continued to assess the impact of forecasted below-average temperatures, December closed flat on Wednesday at $3.555.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 58 BCF injection to storage for the week ended November 2nd.  This compares to a 15 BCF injection at this time last year and a five-year average injection amount of 48 BCF.

This morning in Globex, WTI Crude was down six cents; Natural Gas was down two cents; Heating Oil was down three cents; and Gasoline was up one cent.  
 
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.