November NYMEX Natural Gas Futures Contract Closed at $2.733 on Tuesday, October 8th

Tuesday, October 8th saw the front-month NYMEX Natural Gas Futures Contract open at $2.706, down $0.040 compared to Monday’s closing price of $2.746. Marking the intraday low of $2.699 within minutes of the open, the contract posted a hesitant ascent throughout the session. Traders weighed recent bullish forecasts against weak demand in Florida as Hurricane Milton draws near. Recording the intraday high of $2.773 at 1:25PM, November finished on a downbeat to close lower on Tuesday at $2.733.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 76 BCF injection to storage for the week ended October 4th. This compares to an 84 BCF injection this time last year and a five-year average injection amount of 96 BCF.

As of 7:00AM EST this morning in Globex, WTI Crude was down $0.410; Natural Gas was down $0.034; Heating Oil was down $0.016, and Gasoline was down $0.012.

                                                                                                 
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.

Related Articles

China’s Oil Imports Fell for a Fifth Consecutive Month

October 15th, 2024
November NYMEX Natural Gas Futures Contract Closed at $2.494 on Monday, October 14th

October 15th, 2024
The Market Will Be Driven By Any Headline Regarding the Tension in the Middle East

October 14th, 2024
The Market Remained Concerned Over the Escalating Tensions Between Israel and Iran

October 11th, 2024
November NYMEX Natural Gas Futures Contract Closed at $2.675 on Thursday, October 10th

October 11th, 2024
Regulatory Matters – Third Quarter 2024

October 10th, 2024
The EIA Lowered its Demand Forecast for Next Year

October 10th, 2024
November NYMEX Natural Gas Futures Contract Closed at $2.660 on Wednesday, October 9th

October 10th, 2024
Energy Companies Began Shutting Down Their Pipelines in Tampa

October 9th, 2024
The Conflict in the Middle East Continuing to Drive the Market Higher

October 8th, 2024