November NYMEX Natural Gas Futures Contract Closed at $5.613 on Tuesday, October 25th

Tuesday, October 25th saw the November NYMEX Natural Gas Futures Contract open at $5.381, eighteen cents above Monday’s closing price of $5.199. Falling to a momentary intraday low of $5.239 by 9:15AM, prices then moved decidedly higher due in part to a bullish shift in weather models. After roaming into oversold territory late last week, the upcoming November contract settlement has also brought volatility to the table. Reaching $5.56 by midday, the contract rose to an intraday high of $5.627 ahead of 2:30PM. November closed higher on Tuesday at $5.613.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 58 BCF injection to storage for the week ended October 21. This compares to an 87 BCF injection at this time last year and a five-year average injection amount of 66 BCF.

As of 7:25AM EST this morning in Globex, WTI Crude was up 81 cents; Natural Gas was down six cents; Heating Oil was up one cent; and Gasoline was up one cent.

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.