November 14, 2019
Wednesday, November 13
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.594, three cents below Tuesday’s closing price of $2.621. In an uneventful day of trading, prices fluctuated with a two-cent range of $2.585 for the majority of the day. With the current below-average conditions priced into the market, traders are looking ahead for a forecast of extended cold, as production remains healthy. Falling to an intraday low of $2.570 at 1:00PM, December closed lower on Wednesday at $2.600.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 6 BCF injection to storage for the week ended November 8
th. This compares to a 39 BCF injection at this time last year and a five-year average injection amount of 30 BCF.
As of 9:15AM EST this morning in Globex, WTI Crude was down 42 cents; Natural Gas was up six cents; Heating Oil was down two cents; and Gasoline was down one cent.
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