November NYMEX Natural Gas Futures Contracts Closed at $3.165 on Thursday, October 4th

Thursday, October 4th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.235, slightly above Wednesday’s closing price of $3.230.  Following a brief ascent to the intraday high of $3.248 by 9:20AM, prices descended sharply to trade near $3.190 ahead of 10:30AM.  Dropping to the intraday low of $3.129 as markets reacted to the bullish report, the contract struggled to reclaim the morning’s losses as it fluctuated between $3.200 and $3.140 throughout the balance of the day.  November closed lower on Thursday at $3.165.

The EIA Natural Gas Storage Report published on Thursday showed a 98 BCF injection to storage for the week ended September 28th – well above the market estimate of 75 BCF.  Total working gas in storage was reported as 2,866 BCF; 18.2% below this time last year and 17.5% below the five-year average.
Natural Gas Glossary
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.

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.