January NYMEX Natural Gas Futures Contract Closed at $3.163 on Tuesday, December 10th

Tuesday, December 10th saw the front month NYMEX Natural Gas Futures Contract open at $3.088, down $0.094 compared to Monday’s closing price of $3.182. Recording the intraday low of $3.069 ahead of 9:15AM, steady production and forecasts for weakening demand directed prices lower overnight. Bullish traders put up a fight as the session drew on, directing prices to an intraday high of $3.189 at 1:55PM. January closed lower on Tuesday at $3.163.

The EIA Natural Gas Storage Report published last Thursday showed a 30 BCF withdrawal from storage for the week ended November 22 – in line the market estimate of a 35 BCF injection. Total working gas in storage was reported as 3,939 BCF; 4.9% above this time last year and 7.8% above the five-year average.

As of 7:10AM this morning in Globex, WTI Crude was up $1.00; Natural Gas was up $0.098; Heating Oil was up $0.022, and Gasoline was up $0.026.

                                                                                                 
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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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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