December NYMEX Natural Gas Futures Contract Closed at $4.791 on Friday, November 12th

Market Insights
Natural Gas
November 15, 2021
Friday, November 12th saw the front-month NYMEX Natural Gas Futures Contract open at $5.044, ten cents below Thursday’s closing price of $5.149. Persistent mild temperatures and steady production provided downward pressure as the contract tallied an intraday high of $5.075 within the session’s opening minutes. Posting a staggered descent to cross midday near $4.920, prices fell to an intraday low of $4.752 at 1:40PM. December closed lower on Friday at $4.791, down 13% on the week.
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 7:00AM EST this morning in Globex, WTI Crude was down $1.14; Natural Gas was down three cents; Heating Oil was down five cents; and Gasoline was down four cents.
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