Friday, December 1st saw the front-month NYMEX Natural Gas Futures Contract open at $2.769, three cents above Thursday’s closing price of $2.802. Marking the intraday low of $2.757 at 9:30 the contract then mounted as steady ascent to record the intraday high of $2.844 ninety minutes later. Trading along $2.825 through midday, January proceeded to close higher on Friday at $2.814.
The EIA Natural Gas Storage Report published last Thursday showed a 10 BCF injection to storage for the week ended November 24 – above the market estimate of a 3 BCF injection. Total working gas in storage was reported as 3,836 BCF; 9.8% above this time last year and 8.6% above the five-year average.
As of 7:25AM EST this morning in Globex, WTI Crude was down 39 cents; Natural Gas was down seven cents; Heating Oil up two cents; and Gasoline was down one cent.
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.
