December NYMEX Natural Gas Futures Contract Closed at $2.633 on Thursday, October 31st

Thursday, October 31st saw the front-month NYMEX Natural Gas Futures Contract open at $2.729, four cents above Wednesday’s closing price of $2.691.  Extending to an intraday high of $2.733 within minutes of the opening bell, selling soon took hold and directed markets lower.  Trading along either side of $2.680 from 9:40AM through 10:30AM, a somewhat bearish injection put additional downward pressure on prices.  Holding onto the $2.660 level until 12:30PM, the contract then tumbled to an intraday low of $2.606 at 1:40PM.  December closed lower on Thursday at $2.633.

The EIA Natural Gas Storage Report published on Thursday showed an 89 BCF injection to storage for the week ended October 25th – below the market estimate of 91 BCF. Total working gas in storage was reported at 3,695 BCF: 17.8% above this time last year and 1.4% above the five-year average.

As of 8:30AM EST this morning in Globex, WTI Crude was up 56 cents; Natural Gas was down two cents; Heating Oil was up two 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 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.