Tuesday, November 25th saw the front-month NYMEX Natural Gas contract open at $4.327, $0.222 below Monday’s closing price of $4.549. Marking an intraday low of $4.267 at 9:25AM and an intraday high of $4.382, December settled lower on Tuesday at $4.424.
The more actively traded January contract opened at $4.450, down $0.222 versus Monday’s closing price. Posting a similar path as its predecessor, the contract marked an intraday low of $4.390 at 9:25AM before climbing higher into the afternoon. Recording the intraday high of $4.525 at 2:10PM January closed on Tuesday at $4.481.
The EIA Natural Gas Storage Report is due out Wednesday at 12:00PM. The report is expected to show a 3 BCF withdrawal from storage for the week ended November 21. This compares to a 2 BCF withdrawal this time last year and a five-year average withdrawal amount of 25 BCF.
As of 7:55AM this morning in Globex, WTI Crude was down $0.190; Natural Gas was up $0.127; Heating Oil was down $0.018; and Gasoline was up $0.002.
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
