November 16, 2022
Tuesday, November 15
th saw the December NYMEX Natural Gas Futures Contract open at $5.990, six cents above Monday’s closing price of $5.933 on Monday. Slipping to an intraday low of $5.841 ahead of 10:00AM, prices rose heading towards midday as forecasts remain bullish and ongoing uncertainty surrounding the Freeport LNG facility. Reaching the intraday high of $6.129 at 12:55PM, December closed higher on Tuesday at $6.034.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 61 BCF injection to storage for the week ended November 11. This compares to a 26 BCF injection at this time last year and a five-year average withdrawal amount of 5 BCF.
As of 7:35AM EST this morning in Globex, WTI Crude was down one cent; Natural Gas was down nine cents; Heating Oil was up one cent; and Gasoline was up one cent.
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