December NYMEX Natural Gas Futures Contract Closed at $3.352 on Monday, October 30th

Monday, October 30th saw the front-month NYMEX Natural Gas Futures Contract open at $3.347, nearly fourteen cents below Friday’s closing price of $3.483. Knocked down by updated weather forecasts shedding material degree days for the coming weeks, prices slipped to an intraday low of $3.323 at 9:25AM. Fluctuating along $3.340 for the balance of the day, marking an intraday high of $3.380 at midday, December closed lower on Monday at $3.352.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 85 BCF injection to storage for the week ended October 27th. This compares to a 102 BCF injection at this time last year and a five-year average injection amount of 57 BCF.

As of 6:40AM EST this morning in Globex, WTI Crude was up 81 cents; Natural Gas was up three cents; Heating Oil was up four cents; and Gasoline was up 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.
 

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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.