November 22, 2019
Thursday, November 21
st saw the front-month NYMEX Natural Gas Futures Contract open at $2.535, two cents below Wednesday’s closing price of $2.559. Ascending to $2.560 by 10:00AM, prices held steady until the bullish 10:30AM storage report supported a momentary jump to $2.590. Losing ground in the following ninety minutes to record the intraday low of $2.526 at midday. Buying dominated the afternoon as the contract rose to an intraday high of $2.595 at 1:30PM. The December contract closed higher on Thursday at $2.567.
The EIA Natural Gas Storage Report published on Thursday showed a 94 BCF withdrawal from storage for the week ended November 15
th – above the market estimate of 87 BCF. Total working gas in storage was reported as 3,638 BCF: 16.2% above this time last year and 1.6% below the five-year average.
As of 8:50AM EST this morning in Globex, WTI Crude was down 19 cents; Natural Gas was up four cents; Heating Oil was up slightly; and Gasoline was down one cent.
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.