November 20, 2020
Thursday, November 19
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.568, fifteen cents below Wednesday’s closing price $2.712. Trading near $2.550 through 10:00AM, prices briefly rose to $2.585 until the bearish storage report’s publication thirty minutes later. Tallying a six-week intraday low of $2.525 as the larger-than-expected report hit the wire, the contract then rose confidently into the afternoon. Crossing midday near $2.600 and tallying an intraday high of $2.648 at 1:00PM, the December contract closed lower on Thursday at $2.592.
The EIA Natural Gas Storage Report published on Thursday showed a 31 BCF injection into storage for the week ended November 13
th – above the market estimate of -4 BCF. Total working gas in storage was reported as 3,958 BCF: 8.0% above this time last year and 6.2% above the five-year average.
As of 9:15AM EST this morning in Globex, WTI Crude was down eight cents; Natural Gas was up four 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.