Thursday, September 14th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.041, two cents below Wednesday’s closing price of $3.058. Marking the intraday low of $3.036 at 9:30AM, prices seesawed along $3.045 until the weekly storage report release at 10:30AM. Despite a larger-than-expected injection, the contract jumped to the $3.09 level and proceeded to tally the intraday high of $3.106 by 11:20AM. Plotting a staggered descent into the afternoon, October closed higher on Thursday at $3.070.
The EIA Natural Gas Storage Report published on Thursday showed a 91 BCF injection to storage for the week ended September 8th – above the market estimate of 76 BCF. Total working gas in storage was reported as 3,311 BCF; 5.1% below this time last year and 1.3% above the five-year average.
This morning in Globex, WTI Crude was up 12 cents; Natural Gas was down four cents; Heating Oil was up one cent and, Gasoline was up one cent. Additionally, cash prices were higher in New York and lower in New England.
Natural Gas Glossary
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