Market Insights > First Look

First Look - Gas falls 18c as weather forecasts shift warmer

Oil is trading higher ahead of EIA inventory report
- The API expects US crude inventories to have fallen by 5.9 MMBbls last week, with the official EIA data release later this morning
- Volume and liquidity may be reduced going into the Thanksgiving holiday, with NYMEX closed tomorrow
Lebanon cease-fire starts
- The cease-fire between Israel and Lebanon began early Wednesday morning after both sides reached a deal
- The cease-fire is to last 60 days
- Oil prices have been under pressure this week as a cease-fire should reduce the geopolitical risk premium in crude prices

The Jan25 contract starts lower this morning by $0.192, to $3.277, on its first day as the prompt month contract.
The EIA will be releasing its Weekly Natural Gas Storage Report at 11:00 am CT today due to the Thanksgiving Holiday.

Aegis Clients: We anticipate market liquidity to thin rapidly after 11:00 am central time and continuing to be thin when trading resumes Friday.