December NYMEX Natural Gas Futures Contract Closed at $5.149 on Thursday, November 11th

Market Insights
Natural Gas
November 12, 2021
Thursday, November 11th saw the front-month NYMEX Natural Gas Futures Contract open at $4.942, six cents above Wednesday’s closing price of $4.880. Tallying the intraday low of $4.901 twice in the opening hour, prices then mounted a steady ascent to cross midday near $5.015. Marking an intraday high of $5.169 ahead of 2:30PM as updated forecasts introduced colder temperatures, December closed higher on Thursday at $5.149.
The EIA Natural Gas Storage Report published on Wednesday showed a 7 BCF injection to storage for the week ended November 5th –below the market estimate of 15 BCF. Total working gas in storage was reported as 3,618 BCF; 7.8% below this time last year and 3.2% below the five-year average.
As of 6:08AM EST this morning in Globex, WTI Crude was down $1.27; Natural Gas was down eight cents; Heating Oil was down five cents; and Gasoline was down four cents.
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