Tuesday, November 22nd saw the December NYMEX Natural Gas Futures Contract open at $6.548, twenty-three cents below Monday’s closing price of $6.776. Marking an intraday low of $6.512 out of the gate, the contract then moved confidently higher to tally an intraday high of $6.976 at 11:35AM. Seeking direction through the afternoon, December closed nearly flat on Tuesday at $6.779.
Markets will be closed on Thursday in observance of the Thanksgiving holiday.
The EIA Natural Gas Storage Report is due out on Wednesday at 12:00PM. The report is expected to show an 86 BCF withdrawal from storage for the week ended November 18. This compares to a 21 BCF withdrawal at this time last year and a five-year average withdrawal amount of 48 BCF.
As of 7:50AM EST this morning in Globex, WTI Crude was down $2.18; Natural Gas was up 45 cents; Heating Oil was down four cents; and Gasoline was down seven cents.
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