November 3, 2021
Tuesday, November 2
nd saw the front-month NYMEX Natural Gas Futures Contract open at $5.424, twenty-four cents above Monday’s closing price of $5.186. Recording the intraday low of $5.352 within minutes of the open, prices consistently moved upward throughout the session despite steady production as forecasts shifted cooler. Marking an intraday high of $5.560 at 2:20PM, December at closed higher on Tuesday at $5.542, up nearly 7%.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 63 BCF injection to storage for the week ended October 29. This compares to a 36 BCF withdrawal at this time last year and a five-year average injection amount of 38 BCF.
As of 6:05AM EST this morning in Globex, WTI Crude was down $1.60; Natural Gas was down three cents; Heating Oil was down four cents; and Gasoline was down four cents.
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