November 8, 2021
Friday, November 5
th saw the front-month NYMEX Natural Gas Futures Contract open at $5.579, fourteen cents below Thursday’s closing price of $5.716. In a quiet day of trading, the contract chopped around either side of the $5.570 level as weather forecasts remained unchanged. Reaching an intraday high of $5.642 at 12:50PM and an intraday low of $5.506 at 2:20PM, December closed lower on Friday at $5.516, up nearly 2% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 63 BCF injection to storage for the week ended October 29–in line with the market estimate of 68 BCF. Total working gas in storage was reported as 3,611 BCF; 8.0% below this time last year and 2.7% below the five-year average.
As of 6:00AM EST this morning in Globex, WTI Crude was up $1.13; Natural Gas was up ten cents; Heating Oil was up two cents; and Gasoline was up two cents.
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