October NYMEX Natural Gas Futures Contract Closed at $4.641 on Thursday, September 2nd

Thursday, September 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $4.663, five cents above Wednesday’s closing price of $4.615. Trending higher soon after the opening bell, prices traded within three cents of $4.645 leading up to the weekly storage publication. Jumping to tally an intraday high of $4.727 in response to the bullish report, the contract then stepped lower heading into midday. Falling to an intraday low of $4.607 at 1:00PM, October closed higher on Thursday at $4.641.
 
The EIA Natural Gas Storage Report published on Thursday showed a 20 BCF injection to storage for the week ended August 27th – below the market estimate of 32 BCF. Total working gas in storage was reported as 2,871 BCF; 16.8% below this time last year and 7.2% below the five-year average.
 
As of 6:35AM EST this morning in Globex, WTI Crude was up 28 cents; Natural Gas was up one cent; Heating Oil was up one cent; and Gasoline was up two cents.
 
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