December NYMEX Natural Gas Futures Contract Closed at $2.846 on Tuesday, November 21st

Tuesday, November 21st saw the front-month NYMEX Natural Gas Futures Contract open at $2.892, a penny above Monday’s closing price of 2.882. Trading gradually higher throughout the morning, weather models trended slightly bullish overnight. Recording the intraday high of $2.291 at 11:25AM, the contract then withdrew to cross midday near $2.860. December closed lower on Tuesday at $2.846.

The Sprague Natural Gas MarketWatch will be on hiatus until Tuesday, November 28.

The EIA Natural Gas Storage Report is due out on Wednesday at 12:00PM. The report is expected to show a 2 BCF injection to storage for the week ended November 17th. This compares to a 53 BCF withdrawal at this time last year and a five-year average withdrawal amount of 80 BCF.

As of 7:15AM EST this morning in Globex, WTI Crude was down $1.46; Natural Gas was up slightly; Heating Oil was down four cents; and Gasoline was down three cents.
                                                                                                    
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.

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