November 13, 2023
Friday, November 10
th saw the front-month NYMEX Natural Gas Futures Contract open at $3.054, a penny above Thursday’s closing price of $3.041. Ascending to the intraday high of $3.077 by 9:15AM, the contract stabilized near $3.030 by 10:30AM and extended into midday. Marking the intraday low of $3.020 at 11:45AM. Tamped down by steady production and continued forecasts for meager heating demand, December closed lower on Friday at $3.033.
The EIA Natural Gas Storage Report for the weeks ended November 3
rd and 10
th will be
published on November 16th to complete a planned systems upgrade. The report for the week ended November 3
rd is expected to show a four BCF injection to storage. This compares to a 79 BCF injection at this time last year and a five-year average injection amount of 36 BCF.
As of 7:10AM EST this morning in Globex, WTI Crude was up 19 cents; Natural Gas was up 16 cents; Heating Oil was up two cents; and Gasoline was down slightly.
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