Tuesday, November 21
st saw the front-month NYMEX Natural Gas Futures Contract open at $2.892, a penny above Monday’s closing price of 2.882. Trading gradually higher throughout the morning, weather models trended slightly bullish overnight. Recording the intraday high of $2.291 at 11:25AM, the contract then withdrew to cross midday near $2.860. December closed lower on Tuesday at $2.846.
The Sprague Natural Gas MarketWatch will be on hiatus until Tuesday, November 28.
The EIA Natural Gas Storage Report is due out on Wednesday at 12:00PM. The report is expected to show a 2 BCF injection to storage for the week ended November 17
th. This compares to a 53 BCF withdrawal at this time last year and a five-year average withdrawal amount of 80 BCF.
As of 7:15AM EST this morning in Globex, WTI Crude was down $1.46; Natural Gas was up slightly; Heating Oil was down four cents; and Gasoline was down three cents.
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to
natgas@spragueenergy.com or call 1-855-466-2842.
This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.