November 22, 2021
Friday, November 19
th – saw the front-month NYMEX Natural Gas Futures Contract open at $4.965, six cents above Thursday’s closing price of $4.902. Fluctuating along the $4.950 mark through 11:00AM, prices then slipped to an intraday low of $4.885 twenty minutes later. As the latest forecasts remain supportive the contract moved confidently higher to achieve an intraday of $5.156 at 2:00PM. December closed higher on Friday at $5.065, up nearly 6% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 26 BCF injection to storage for the week ended November 12 – in line with the market estimate of 25 BCF. Total working gas in storage was reported as 3,644 BCF; 7.8% below this time last year and 2.2% below the five-year average.
As of 6:35AM EST this morning in Globex, WTI Crude was up 16 cents; Natural Gas was down 25 cents; Heating Oil was up two cents; and Gasoline was up two cents.
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