November NYMEX Natural Gas Futures Contract Closed at $2.976 on Thursday, November 12th

Market Insights
Natural Gas
November 13, 2020
Thursday, November 12th saw the front-month NYMEX Natural Gas Futures Contract open at $2.999, three cents below Wednesday’s closing price $3.031.  Churning higher throughout the morning, it achieved an intraday high of $3.053 at 11:10AM and again twenty minutes later.  Trending lower as midday approached, the contract tumbled to an intraday low of $2.950 at 2:20PM, December closed lower on Thursday at $2.976.

The EIA Natural Gas Storage Report is due out today 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 down 83 cents; Natural Gas was up four cents; Heating Oil was down two cents; and Gasoline was down three cents.

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