December NYMEX Natural Gas Futures Contract Closed at $3.031 on Wednesday, November 11th

Wednesday, November 11th saw the front-month NYMEX Natural Gas Futures Contract open at $2.939, a penny below Tuesday’s closing price $2.949.  Climbing to $2.988 by 9:30AM, the contract traded along either side of $2.955 for the majority of the day. Falling to an intraday low of $2.921 at 1:10PM, prices then ascended rapidly to record an intraday high of $3.035 at 2:20PM, as weather forecasts remain supportive.  The December contract closed higher on Wednesday at $3.031.

The EIA Natural Gas Storage Report is due out on Friday at 10:30AM. The report is expected to show a three BCF withdrawal from storage for the week ended November 6th. This compares to a 3 BCF injection at this time last year and a five-year average injection amount of 33 BCF.

As of 8:45AM EST this morning in Globex, WTI Crude was up eleven cents; Natural Gas was down three cents; Heating Oil was down slightly; and Gasoline was down one cent.

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 natgas@spragueenergy.com 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.

Related Articles

November NYMEX Natural Gas Futures Contract Closed at $2.854 on Friday, October 4th

octobre 7th, 2024
Fears That Israel May Target Iranian Oil Infrastructure

octobre 7th, 2024
Concerns the Widening Conflict in the Middle East Could Threaten Global Oil Supply

octobre 4th, 2024
November NYMEX Natural Gas Futures Contract Closed at $2.970 on Thursday, October 3rd

octobre 4th, 2024
Optimize Your Natural Gas Operating Costs: A Guide to Sprague’s Pricing Plans and Budget Certainty

octobre 3rd, 2024
Concerns That the Escalating Conflict in the Middle East Could Impact Oil Supplies

octobre 3rd, 2024
November NYMEX Natural Gas Futures Contract Closed at $2.886 on Wednesday, October 2nd

octobre 3rd, 2024
Libya’s Output Expected to Recover After an Agreement

octobre 2nd, 2024
November NYMEX Natural Gas Futures Contract Closed at $2.896 on Tuesday, October 1st

octobre 2nd, 2024
The Market Weighed the Prospect of Increased Supply

octobre 1st, 2024