December NYMEX Natural Gas Futures Contract Closed at $6.779 on Tuesday, November 22nd

Tuesday, November 22nd saw the December NYMEX Natural Gas Futures Contract open at $6.548, twenty-three cents below Monday’s closing price of $6.776. Marking an intraday low of $6.512 out of the gate, the contract then moved confidently higher to tally an intraday high of $6.976 at 11:35AM. Seeking direction through the afternoon, December closed nearly flat on Tuesday at $6.779.

Markets will be closed on Thursday in observance of the Thanksgiving holiday.

The EIA Natural Gas Storage Report is due out on Wednesday at 12:00PM. The report is expected to show an 86 BCF withdrawal from storage for the week ended November 18. This compares to a 21 BCF withdrawal at this time last year and a five-year average withdrawal amount of 48 BCF.

As of 7:50AM EST this morning in Globex, WTI Crude was down $2.18; Natural Gas was up 45 cents; Heating Oil was down four cents; and Gasoline was down seven cents.
 
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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.