December NYMEX Natural Gas Futures Contracts Closed at $4.523 on Tuesday, November 20th

Tuesday, November 20th saw the front-month NYMEX Natural Gas Futures Contracts open at $4.597, roughly ten cents below Monday’s closing price of $4.700.  After recording the intraday high of $4.630 as markets opened, the contract sought direction in the following ninety minutes as prices fluctuated within a six-cent range of $4.540.  Trailing downward for the majority of the afternoon to reach the intraday low of $4.274 at 1:50PM, a last minute recovery effort fell short as December closed lower on Tuesday at $4.523.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 115 BCF withdrawal from storage for the week ended November 16th.  This compares to a 46 BCF withdrawal at this time last year and a five-year average withdrawal amount of 25 BCF.

This morning in Globex, WTI Crude was up $1.11; Natural Gas was up 11 cents; Heating Oil was up two cents; and Gasoline was up two cents.  Additionally, cash prices were higher in New York and New England.
 
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.