December NYMEX Natural Gas Futures Contract Closed at $3.291 on Wednesday, October 28th

Wednesday, October 28th – settlement day for the November contract — saw the front-month NYMEX Natural Gas Futures Contract settle at $2.996, below Tuesday’s closing price $3.019.  The more heavily traded December contract opened at $3.302, a penny below Tuesday’s closing price of $3.311.  Reaching an intraday high of $3.324 within minutes of 9:00AM, the contract trading along either side of $3.295 for the majority of the day. Falling to an intraday low of $3.274 at 1:30PM, the December contract closed lower on Wednesday at $3.291.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 46 BCF injection to storage for the week ended October 23rd. This compares to an 89 BCF injection at this time last year and a five-year average injection amount of 67 BCF.

As of 6:55AM EST this morning in Globex, WTI Crude was down $1.27; Natural Gas was down four cents; Heating Oil was down two cents; and Gasoline was down two cents.

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.
 

Share:
RSS
Follow by Email
Facebook
X (Twitter)

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.