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

Market Insights
Natural Gas
November 12, 2020
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 or call 1-855-466-2842.