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Market Intel Archives

December NYMEX Natural Gas Futures Contracts Closed at $3.053 on Thursday, November 16th

November 17, 2017

Thursday, November 16th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.102, two cents above Wednesday’s closing price of $3.080.  Setting the pace early on with a steady decline near $3.085 ahead of 10:30AM, a larger-than-expected withdrawal from storage briefly directed prices to the intraday high of $3.110 before continuing its downward route.  Finding support at the intraday low of $3.049 near midday, December straddled the $3.06 mark for the duration of the afternoon to close lower on Thursday at $3.053.

The EIA Natural Gas Storage Report published on Thursday showed an 18 BCF withdrawal from storage for the week ended November 10th – slightly larger than the market estimate of 15 BCF.  Total working gas in storage was reported as 3,772 BCF; 6.7% below this time last year and 2.6% below the five-year average.

This morning in Globex, WTI Crude was up 78 cents; Natural Gas was up three cents; Heating Oil was up two cents; and, Gasoline was up one cent.

 Natural Gas Glossary

                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

December NYMEX Natural Gas Futures Contracts Closed at $3.080 on Wednesday, November 15th

November 16, 2017

Wednesday, November 15th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.125, two cents above Tuesday’s closing price of $3.102.  Emerging evenly into the market to seesaw along the $3.12 mark until 11:00AM, prices rose over the following twenty minutes to tally the intraday high of $3.153.  Directed lower soon thereafter as updated short-term forecasts are turning bullish for the western half of the country and production is likely to increase month-over-month, the contract proceeded to tumble lower into the afternoon.  Bottoming out at the intraday low of $3.052 ahead of 2:00PM, December closed lower on Wednesday at $3.080.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 16 BCF withdrawal from storage for the week ended November 10th.  This compares to a 30 BCF injection at this time last year and a five-year average injection amount of 12 BCF.

This morning in Globex, WTI Crude was down 11 cents; Natural Gas was up two cents; Heating Oil was down slightly; and, Gasoline was down one cent.

Natural Gas Glossary

                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

December NYMEX Natural Gas Futures Contracts Closed at $3.102 on Tuesday, November 14th

November 15, 2017

Tuesday, November 14th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.072, nearly ten cents below Monday’s closing price of $3.167.  Starting the day on the ropes once again as profit taking continues and traders assess market fundamentals, the contract found support near $3.065 as markets opened.  Mounting a meek ascent to reach $3.095 by 10:00AM, a bout of selling then drove prices to the intraday low of $3.064 by 11:30AM.  Recovering to reach the intraday high of $3.115 shortly after 1:00PM, December proceeded to close lower on Tuesday at $3.102.

This morning in Globex, WTI Crude was down 60 cents; Natural Gas was up three cents; Heating Oil was down two cents; and, Gasoline was down three cents.

Natural Gas Glossary

                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

December NYMEX Natural Gas Futures Contracts Closed at $3.167 on Monday, November 13th

November 14, 2017

Monday, November 13th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.189, three cents below Friday’s closing price of $3.217.  Losing ground in overnight trading as profit taking took hold, prices soon rose higher despite forecasts for mild temperatures in the coming week.  Climbing aggressively shortly after 9:30AM, the contract marked the intraday high of $3.231 forty minutes later.  Choppy trading ensued into the early afternoon as prices fluctuated within a penny of $3.210, before ultimately losing support by day’s end as December closed lower on Monday at $3.167.

This morning in Globex, WTI Crude was down 31 cents; Natural Gas was down seven cents; Heating Oil was down two cents; and, Gasoline was down two cents.

Natural Gas Glossary

                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

December NYMEX Natural Gas Futures Contracts Closed at $3.217 on Friday, November 10th

November 13, 2017

Friday, November 10th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.189, a penny below Thursday’s closing price of $3.200.  Establishing an upward trend early on, prices rose above $3.210 by 10:30AM.  With the current cold spell set to expire for much of the country in the coming week, below average storage levels are now what’s supporting December’s winning streak.  Faltering to mark the intraday low of $3.178 at 11:20AM, bullish traders persevered as the day drew on with the contract finishing higher on Friday at $3.217, boasting a 7% week-over-week gain.

This morning in Globex, WTI Crude was up nine cents; Natural Gas was down four cents; Heating Oil was up slightly; and, Gasoline was up one cent.

Natural Gas Glossary

                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

December NYMEX Natural Gas Futures Contracts Closed at $3.200 on Thursday, November 9th

November 10, 2017

Thursday, November 9th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.203, three cents above Wednesday’s closing price of $3.175.  Climbing modestly to $3.210 in the day’s opening hour, weather induced overnight gains held the contract steady ahead of the weekly storage release.  Plunging lower as the report hit the wire, prices fell to the intraday low of $3.165 shortly after 11:00AM.  Managing a staggered recovery over the balance of the day, December closed higher for the sixth straight session on Thursday at $3.200.

The EIA Natural Gas Storage Report published on Thursday showed a 15 BCF injection to storage for the week ended November 3rd – above the market estimate of 12 BCF.  Total working gas in storage was reported as 3,790 BCF; 5.5% below this time last year and 1.8% below the five-year average.

This morning in Globex, WTI Crude was unchanged; Natural Gas was down two cents; Heating Oil was up one cent; and, Gasoline was up slightly.

Natural Gas Glossary                                                                                               

For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

December NYMEX Natural Gas Futures Contracts Closed at $3.175 on Wednesday, November 8th

November 09, 2017

Wednesday, November 8th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.155, just above Tuesday’s closing price of $3.152.  Entering the market in a confident ascent to reach the intraday high of $3.190 by 9:20AM, the contract soon retreated.  With uncertain short-term weather competing against what may be the last storage injection of the season, prices fluctuated along $3.175 late into the afternoon.  Trailing lower after an attempt to reclaim the $3.19 mark ahead of 2:30PM, December closed higher on Wednesday at $3.175.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 12 BCF injection to storage for the week ended November 3rd.  This compares to a 54 BCF injection at this time last year and a five-year average injection amount of 45 BCF.

This morning in Globex, WTI Crude was unchanged; Natural Gas was up two cents; Heating Oil was down slightly; and, Gasoline was down slightly.

Natural Gas Glossary

                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

December NYMEX Natural Gas Futures Contracts Closed at $3.152 on Tuesday, November 7th

November 08, 2017

Tuesday, November 7th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.108, roughly three cents below Monday’s closing price of $3.134.  As prices rose confidently Monday, with traders expecting increased consumption for the 2017-18 winter season, updated weather forecasts gave pause to additional gains early yesterday morning.  Finding the intraday low of $3.097 ahead of 10:00AM, bulls soon reentered the market to drive prices to the intraday levels not seen since last May; marking a high of $3.176 by 12:20PM.  Sliding modestly lower by day’s end, December closed lower on Tuesday at $3.152.

This morning in Globex, WTI Crude was down 17 cents; Natural Gas was down two cents; Heating Oil was down one cent; and, Gasoline was down one cent.

Natural Gas Glossary

                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

December NYMEX Natural Gas Futures Contracts Closed at $2.984 on Friday, November 3rd

November 06, 2017

Friday, November 3rd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.962, three cents above Thursday’s closing price of $2.935.  Jumping eagerly to eclipse $2.985 soon after trading opened, prices seesawed along $2.975 for the balance of the morning.  With the end of the injection season closing in, total storage levels are unlikely to surpass the 4,000 BCF mark as they did last year.  Climbing higher into the afternoon to mark the intraday high of $2.997 at 1:00PM and again an hour later, December closed higher on Friday at $2.984.

This morning in Globex, WTI Crude was up 31 cents; Natural Gas was up eight cents; Heating Oil was up slightly; and, Gasoline was up slightly.

Natural Gas Glossary                                                                                               

For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

December NYMEX Natural Gas Futures Contracts Closed at $2.935 on Thursday, November 2nd

November 03, 2017

Thursday, November 2nd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.923, three cents above Wednesday’s closing price of $2.893.  Picking up ground in pre-session buying as traders reassess market fundamentals, a hesitant climb saw prices reach above $2.930 ahead of the 10:30AM weekly storage report.  Stepping higher to reach the intraday high of $2.957 by midday, December tumbled lower into the afternoon to close higher on Thursday at $2.935.

The EIA Natural Gas Storage Report published on Thursday showed a 65 BCF injection to storage for the week ended October 27th – even with the market estimate.  Total working gas in storage was reported as 3,775 BCF; 4.6% below this time last year and 1.1% below the five-year average.

This morning in Globex, WTI Crude was up 15 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was up two cents.

Natural Gas Glossary                                                                                   

For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.