December NYMEX Natural Gas Futures Contract Closed at $5.670 on Wednesday, November 3rd

Wednesday, November 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $5.511, three cents above Monday’s closing price of $5.542. Slipping to an intraday low of $5.488 early on, prices continued the previous days’ rally to $5.690 ahead of 10:00AM as short-term forecasts are calling for below average temperatures. Extending to an intraday high of $5.750 at 12:50PM, December closed higher on Wednesday at $5.670.
 
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 68 BCF injection to storage for the week ended October 29. This compares to a 36 BCF withdrawal at this time last year and a five-year average injection amount of 38 BCF.
 
As of 5:50AM EST this morning in Globex, WTI Crude was up 63 cents; Natural Gas was down one cent; Heating Oil was up three cents; and Gasoline was up two cents.
 
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.