Thursday, October 3rd saw the December NYMEX Natural Gas Futures Contract open at $6.033, twenty-three cents below Wednesday’s closing price of $6.268. Achieving the intraday high of $6.169 by 9:15AM, prices traded along either side of $6.080 heading into the weekly storage publication. Fluctuating within twenty-two cents in the two hours following the report’s release, December trended lower into the after to finish lower on the day at $5.975.
The EIA Natural Gas Storage Report published on Thursday showed a 107 BCF injection to storage for the week ended October 28 – above the market estimate of 98 BCF. Total working gas in storage was reported as 3,501 BCF; 2.8% below this time last year and 3.7% below the five-year average.
As of 7:40AM EST this morning in Globex, WTI Crude was up $3.19; Natural Gas was up 26 cents; Heating Oil was up five cents; and Gasoline was up nine cents.
Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
