January NYMEX Natural Gas Futures Contracts Closed at $4.327 on Thursday, December 6th

Thursday, December 6th saw the front-month NYMEX Natural Gas Futures Contracts open at $4.366, ten cents below Wednesday’s closing price of $4.469.  Retreating from the intraday high of $4.404 as markets opened, prices fell to the intraday low of $4.271 by 10:20AM only to add twelve cents in the following two hours.  Attempting to price in the effects of the forecasted mid-month thaw and today’s storage withdrawal, January traded within a tight band near $4.350 before closing lower on Thursday at $4.327.

The Natural Gas Storage Report pushed back one day due to the National Day of Mourning on Wednesday.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 59 BCF withdrawal from storage for the week ended November 30th.  This compares to a 2 BCF injection at this time last year and a five-year average withdrawal amount of 58 BCF.

This morning in Globex, WTI Crude was up $1.17; Natural Gas was up three cents; Heating Oil was up four cents; and Gasoline was up four 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.

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.