Monday, November 14th saw the December NYMEX Natural Gas Futures Contract open at $6.277, seventeen cents above Thursday’s closing price of $6.239. Markets were closed on Friday in observance of Veteran’s Day, though by day’s end the contract settled lower at $5.879. Recouping weekend losses early on to record the intraday high of $6.416 by 9:15AM, bullish weather updates helped to provide support. We’re still awaiting an official announcement from the Freeport LNG terminal as to when operations will resume. Trending lower through the day to mark an intraday low of $5.890 at 2:15PM, December closed at $5.933 on Monday.
The EIA Natural Gas Storage Report published on Thursday showed a 79 BCF injection to storage for the week ended November 4 – in line with the market estimate of 75 BCF. Total working gas in storage was reported as 3,580 BCF; 1.0% below this time last year and 2.1% below the five-year average.
As of 7:25AM EST this morning in Globex, WTI Crude was down 76 cents; Natural Gas was up 13 cents; Heating Oil was up one cent; and Gasoline was down one cent.
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