October 12, 2022
Tuesday, October 11
th saw the November NYMEX Natural Gas Futures Contract open at $6.495, six cents above Monday’s closing price of $6.435. Seeking direction throughout the day as prices wavered within a twenty-five-cent range, a brief ascent out of the gate then saw the contract fall to an intraday low of $6.418 by 10:45AM. Recovering to reach an intraday high of $6.671 at 1:20PM, November closed higher on Tuesday at $6.596.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 136 BCF injection to storage for the week ended October 7. This compares to an 81 BCF injection at this time last year and a five-year average injection amount of 82 BCF.
As of 7:40AM EST this morning in Globex, WTI Crude was up 22 cents; Natural Gas was up eight cents; Heating Oil was up six 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.