Friday, September 13th saw the front-month NYMEX Natural Gas Futures Contract open at $2.391, three cents above Thursday’s closing price of $2.357. Recording the intraday high of $2.405 within minutes of the opening bell, prices trended lower throughout the day as markets looked past the latest bullish storage injection and former Hurricane Francine’s impact on production. Touching down to an intraday low of $2.294 at 1:35PM, October closed lower on Friday at $2.305.
The EIA Natural Gas Storage Report published on Thursday showed a 40 BCF injection to storage for the week ended September 6 – below the market estimate of a 51 BCF injection. Total working gas in storage was reported as 3,387 BCF; 6.2% above this time last year and 9.6% above the five-year average.
As of 6:25AM EST this morning in Globex, WTI Crude was up 41 cents; Natural Gas was down one cent; Heating Oil was flat; and Gasoline was up one cent.
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