November 15, 2019
Thursday, November 14
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.678, nearly eight cents above Wednesday’s closing price of $2.600. Stepping lower early on, following the overnight jump, prices stabilized along $2.660 through 10:30AM. Plummeting to an intraday low of $2.625 at 10:40AM upon the storage publication’s release, prices whipsawed over the following two hours and posted a staggered ascent to an intraday high of $2.695 at 12:30PM. Selling then dominated the afternoon as December closed higher on Thursday at $2.647.
The EIA Natural Gas Storage Report published on Thursday showed a 3 BCF injection to storage for the week ended November 8
th – just below the market estimate of 6 BCF. Total working gas in storage was reported as 3,732 BCF: 15.1% above this time last year and 0.1% above the five-year average.
As of 8:50AM EST this morning in Globex, WTI Crude was up 13 cents; Natural Gas was up two cents; Heating Oil was down slightly; and Gasoline was unchanged.
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.