October 18, 2021
Friday, October 15th saw the front-month NYMEX Natural Gas Futures Contract open at $5.624, six cents below Thursday’s closing price of $5.687. The contract then arced lower to touch the $5.505 mark, only to rise to an intraday high of $5.628 at 11:10AM. Trending lower into the afternoon, as temperatures remained bearish, the contract fell to an intraday low of $5.402 at 2:20PM. November closed lower on Friday at $5.410, down nearly 3% on the week.
The EIA Natural Gas Storage Report published on Thursday showed an 81 BCF injection to storage for the week ended October 8 – below the market estimate of 111 BCF. Total working gas in storage was reported as 3,369 BCF; 12.9% below this time last year and 4.9% below the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was up $1.37; Natural Gas was down eight cents; Heating Oil was up three cents; and Gasoline was up two cents.
Natural Gas Glossary
Natural Gas Supplier
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.