October NYMEX Natural Gas Futures Contract Closed at $9.262 on Thursday, September 1st

Thursday, September 1st saw the October NYMEX Natural Gas Futures Contract open at $9.153, three cents above Wednesday’s closing price of $9.127. Marking the intraday low of $9.106 within minutes of the open, prices rose and stabilized near $9.260 by 9:30AM leading up to the weekly storage report. Initially slipping below $9.150 as the publication hit the wire at 10:30AM, the contract recovered to reach an intraday high of $9.394 nearly twenty minutes later. Trading sideways through the afternoon, October closed higher on Thursday at $9.262.

The EIA Natural Gas Storage Report published on Thursday showed a 61 BCF injection to storage for the week ended August 26 – in line with the market estimate of 57 BCF. Total working gas in storage was reported as 2,640 BCF; 7.9% below this time last year and 11.3% below the five-year average.

As of 6:55AM EST this morning in Globex, WTI Crude was up $1.97; Natural Gas was down 20 cents; Heating Oil was unchanged; and Gasoline was up eight 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.
 

This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.