November NYMEX Natural Gas Futures Contract Closed at $5.088 on Tuesday, October 19th

Tuesday, October 19th saw the front-month NYMEX Natural Gas Futures Contract open at $4.860, thirteen cents below Monday’s closing price of $4.989. Recording a fresh one-month intraday low of $4.825 early on, prices then moved confidently higher to cross midday near $5.044.  Reaching an intraday high of $5.100 at 1:10PM, bearish weather reports and reduced supply volatility have been the key initiators lately. November closed higher on Tuesday at $5.088.
 
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 80 BCF injection to storage for the week ended October 15. This compares to a 49 BCF injection at this time last year and a five-year average injection amount of 69 BCF.
 
As of 6:45AM EST this morning in Globex, WTI Crude was down 96 cents; Natural Gas was down ten cents; Heating Oil was down three cents; and Gasoline was down four cents. 
 
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.