October 29, 2021
Thursday, October 28
th saw the front-month NYMEX Natural Gas Futures Contract open at $5.910, twenty-nine cents below Wednesday’s closing price of $6.198. Losing ground before the opening bell, demand concerns faded following President Putin’s instruction for Gazprom to provide additional support to Europe. Trading along either side of $5.910 heading into the weekly storage publication, prices jumped to an intraday high of $5.985 only to trend lower soon thereafter. Marking an intraday low of $5.736 at 12:15PM, December closed lower on Thursday at $5.782.
The EIA Natural Gas Storage Report published on Thursday showed an 87 BCF injection to storage for the week ended October 22 – below the market estimate of 94 BCF. Total working gas in storage was reported as 3,548 BCF; 10.2% below this time last year and 3.4% below the five-year average.
As of 6:35AM EST this morning in Globex, WTI Crude was up 27 cents; Natural Gas was down nine cents; Heating Oil was down two cents; and Gasoline was up 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.