October NYMEX Natural Gas Futures Contract Closed at $5.105 on Friday, September 17th

Friday, September 17th saw the front-month NYMEX Natural Gas Futures Contract open at $5.228, eleven cents below Thursday’s closing price of $5.335. Marking an intraday high of $5.253 within minutes of the opening bell, the contract fluctuated along $5.215 through mid-afternoon. Posting a sharp decline to reach an intraday low of $5.080 at 2:00PM, the contract withdrew on Friday as profit taking took hold and dissipating concerns surrounding severe weather disruptions. October closed lower on Friday at $5.105, up 3% on the week.
 
The EIA Natural Gas Storage Report published on Thursday showed an 83 BCF injection to storage for the week ended September 10 – above the market estimate of 74 BCF. Total working gas in storage was reported as 3,006 BCF; 16.5% below this time last year and 7.1% below the five-year average.
 
As of 6:35AM EST this morning in Globex, WTI Crude was down $1.43; Natural Gas was down six cents; Heating Oil was down four cents; and Gasoline was down four cents. 
 
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