November NYMEX Natural Gas Futures Contract Closed at $6.972 on Thursday, October 6th

Thursday, October 6th saw the November NYMEX Natural Gas Futures Contract open at $7.131, twenty cents above Wednesday’s closing price of $6.930. Achieving the intraday high of $7.138 within minutes of the opening bell, prices moved lower to stabilize near $7.02 until 10:00AM. Trading near $6.960 ahead of the weekly storage publication, the contract briefly dipped to the intraday low of $6.868 before recovering to the $7.06 mark. Dismissing the bearish injection November closed higher on Thursday at $6.972.

The EIA Natural Gas Storage Report published on Thursday showed a 129 BCF injection to storage for the week ended September 30 – in line with the market estimate of 125 BCF. Total working gas in storage was reported as 3,106 BCF; 5.0% below this time last year and 7.8% below the five-year average.

As of 7:05AM EST this morning in Globex, WTI Crude was up 89 cents; Natural Gas was down 19 cents; Heating Oil was up five cents; and Gasoline was up two cents.

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