November 18, 2022
Thursday, November 17
th saw the December NYMEX Natural Gas Futures Contract open at $6.306, eleven cents above Wednesday’s closing price of $6.200. Trading along either side of $6.735 heading into 10:30AM, prices fell to an intraday low of $6.226 in the minutes following the weekly storage publication. Recovering soon thereafter, the contract rose to an intraday high of $6.547. Losing ground ahead of closing, December finished higher on Thursday at $6.369.
The EIA Natural Gas Storage Report published on Thursday showed a 64 BCF injection to storage for the week ended November 11 – in line with the market estimate of 61 BCF. Total working gas in storage was reported as 3,644 BCF; 0.1% above this time last year and 0.2% below the five-year average.
As of 7:30AM EST this morning in Globex, WTI Crude was down 61 cents; Natural Gas was down 24 cents; Heating Oil was down one cent; and Gasoline was down one cent.
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