December NYMEX Natural Gas Futures Contract Closed at $3.033 on Friday, November 10th

Friday, November 10^thsaw the front-month NYMEX Natural Gas Futures Contract open at $3.054, a penny above Thursday’s closing price of $3.041. Ascending to the intraday high of $3.077 by 9:15AM, the contract stabilized near $3.030 by 10:30AM and extended into midday. Marking the intraday low of $3.020 at 11:45AM. Tamped down by steady production and continued forecasts for meager heating demand, December closed lower on Friday at $3.033.

The EIA Natural Gas Storage Report for the weeks ended November 3^rd and 10^th will be published on November 16^th to complete a planned systems upgrade. The report for the week ended November 3^rd 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 7:10AM EST this morning in Globex, WTI Crude was up 19 cents; Natural Gas was up 16 cents; Heating Oil was up two cents; and Gasoline was down slightly.

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.

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