December NYMEX Natural Gas Futures Contract Closed at $3.041 on Thursday, November 9th

Thursday, November 9th saw the front-month NYMEX Natural Gas Futures Contract open at $3.128, two cents above Wednesday’s closing price of $3.106. Marking the intraday high of $3.130 within minutes of the opening bell as market fundamentals continue to read as bearish. Without the guidance of the weekly Storage Report, delayed due to systems maintenance, the contract withdrew throughout the morning. Marking the intraday low of $3.022 at 10:45AM, prices hovered near $3.050 into the afternoon. December closed lower on Thursday at $3.041.

The EIA Natural Gas Storage Report for the weeks ended November 3rd and 10th will be published on November 16th to complete a planned systems upgrade. The report for the week ended November 3rd is expected to show a four BCF injection to storage. This compares to a 79 BCF injection at this time last year and a five-year average injection amount of 36 BCF.

As of 7:55AM EST this morning in Globex, WTI Crude was up 90 cents; Natural Gas was down three cents; Heating Oil was up three cents; and Gasoline was down three cents.
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