Friday, October 29th saw the front-month NYMEX Natural Gas Futures Contract open at $5.615, seventeen cents below Thursday’s closing price of $5.782. Attaining an intraday high of $5.626 by 9:20AM, the contract trended lower throughout the session due to a bearish update on the short-term forecasts. Marking an intraday low of $5.401 at 2:10PM, December closed lower on Friday at $5.426.
The EIA Natural Gas Storage Report published on Thursday showed an 87 BCF injection to storage for the week ended October 22 – below the market estimate of 94 BCF. Total working gas in storage was reported as 3,548 BCF; 10.2% below this time last year and 3.4% below the five-year average.
As of 6:00AM EST this morning in Globex, WTI Crude was up 50 cents; Natural Gas was up two cents; Heating Oil was up three cents; and Gasoline was up three cents.
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December NYMEX Natural Gas Futures Contract Closed at $5.426 on Friday, October 29th
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