December NYMEX Natural Gas Futures Contract Closed at $2.995 on Friday, November 13th

Friday, November 13th saw the front-month NYMEX Natural Gas Futures Contract open at $3.023, five cents above Thursday’s closing price $2.976.  Ascending to an intraday high of $3.087 within minutes of the opening bell, prices traded along either side of $3.050 through 10:30AM.  Sinking as low as $2.989 as the bearish storage was published, the contract recovered to reclaim the $3.00 level soon thereafter.  The December contract withdrew into the afternoon to close higher on Friday at $2.995.

The EIA Natural Gas Storage Report published on Thursday showed an 8 BCF injection into storage for the week ended November 6th – above the market estimate of -3 BCF. Total working gas in storage was reported as 3,927 BCF: 5.3% above this time last year and 4.7% above the five-year average.

As of 6:05AM EST this morning in Globex, WTI Crude was up 89 cents; Natural Gas was down 13 cents; Heating Oil was up two cents; and Gasoline was up two cents.

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