November NYMEX Natural Gas Futures Contract Closed at $6.874 on Thursday, September 29th

Thursday, September 29th saw the November NYMEX Natural Gas Futures Contract open at $6.765, nineteen cents below Wednesday’s closing price of $6.955. Trading near $6.670 leading up to the weekly storage release, prices slipped to an intraday low of $6.599 as the bearish publication hit the wire.  Posting a steady recovery from there, despite steady production and mild demand, the contract rose to an intraday high of $6.981 at 1:45PM. November closed lower on Thursday at $6.874.

The EIA Natural Gas Storage Report published on Thursday showed a 103 BCF injection to storage for the week ended September 23 – in line with the market estimate of 101 BCF. Total working gas in storage was reported as 2,977 BCF; 5.7% below this time last year and 9.3% below the five-year average.

As of 7:55AM EST this morning in Globex, WTI Crude was down 22 cents; Natural Gas was up eight cents; Heating Oil was down seven cents; and Gasoline was down three 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.