Thursday, November 18th saw the front-month NYMEX Natural Gas Futures Contract open at $4.971, sixteen cents above Wednesday’s closing price of $4.816. Climbing to an intraday high of $5.032 at 9:30AM, the contract was trading near $4.965 ahead of the weekly storage publication. Slipping to $4.895 as the report hit the wire, prices crossed midday near $4.879 and found an intraday low of $4.852 minutes later. December closed lower on Thursday at $4.902.
The EIA Natural Gas Storage Report published on Thursday showed a 26 BCF injection to storage for the week ended November 12th–in line with the market estimate of 25 BCF. Total working gas in storage was reported as 3,644 BCF; 7.8% below this time last year and 2.2% below the five-year average.
As of 6:25AM EST this morning in Globex, WTI Crude was down $1.95; Natural Gas was up eight cents; Heating Oil was down eight cents; and Gasoline was down six cents.
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