November 12, 2021
Thursday, November 11th saw the front-month NYMEX Natural Gas Futures Contract open at $4.942, six cents above Wednesday’s closing price of $4.880. Tallying the intraday low of $4.901 twice in the opening hour, prices then mounted a steady ascent to cross midday near $5.015. Marking an intraday high of $5.169 ahead of 2:30PM as updated forecasts introduced colder temperatures, December closed higher on Thursday at $5.149.
The EIA Natural Gas Storage Report published on Wednesday showed a 7 BCF injection to storage for the week ended November 5th –below the market estimate of 15 BCF. Total working gas in storage was reported as 3,618 BCF; 7.8% below this time last year and 3.2% below the five-year average.
As of 6:08AM EST this morning in Globex, WTI Crude was down $1.27; Natural Gas was down eight cents; Heating Oil was down five cents; and Gasoline was down four cents.
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.