November 18, 2021
Wednesday, November 17th saw the front-month NYMEX Natural Gas Futures Contract open at $4.976, twenty cents below Tuesday’s closing price of $5.177. Following a bearish shift in short-term weather forecasts overnight, the contract tallied an intraday high of $5.015 at 11:30AM before continuing its downward trajectory. Reaching an intraday low of $4.800 at 2:10PM, December closed lower on Wednesday at $4.816.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 25 BCF injection to storage for the week ended November 12th. This compares to a 31 BCF injection to this time last year and a five-year average withdrawal amount of 12 BCF.
As of 6:35AM EST this morning in Globex, WTI Crude was down 37 cents; Natural Gas was up 10 cents; Heating Oil was up one cent; and Gasoline was down one cent.
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