December NYMEX Natural Gas Futures Contract Closed at $5.714 on Tuesday, November 1st

Tuesday, October 1st saw the December NYMEX Natural Gas Futures Contract open at $6.003, thirty-five cents below Monday’s closing price of $6.355. Tallying the intraday high of $6.049 soon after the opening bell, prices pulled back throughout the day as the latest forecasts have shifted to bearish. Crossing midday at $5.797 and recording an intraday low of $5.614 at 1:15PM, December closed lower on Tuesday at $5.714.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 98 BCF injection to storage for the week ended October 21. This compares to a 63 BCF injection at this time last year and a five-year average injection amount of 45 BCF.

As of 6:55AM EST this morning in Globex, WTI Crude was down 14 cents; Natural Gas was up 17 cents; Heating Oil was down two cents; and Gasoline was up slightly.

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.