December 4, 2023
Friday, December 1
st saw the front-month NYMEX Natural Gas Futures Contract open at $2.769, three cents above Thursday’s closing price of $2.802. Marking the intraday low of $2.757 at 9:30 the contract then mounted as steady ascent to record the intraday high of $2.844 ninety minutes later. Trading along $2.825 through midday, January proceeded to close higher on Friday at $2.814.
The EIA Natural Gas Storage Report published last Thursday showed a 10 BCF injection to storage for the week ended November 24 – above the market estimate of a 3 BCF injection. Total working gas in storage was reported as 3,836 BCF; 9.8% above this time last year and 8.6% above the five-year average.
As of 7:25AM EST this morning in Globex, WTI Crude was down 39 cents; Natural Gas was down seven cents; Heating Oil up two cents; and Gasoline was down one cent.
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.