Thursday, August 9th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.946, just below Wednesday’s closing price of $2.949. Awaiting news from the weekly inventory report, prices traded calmly along $2.945 through 10:30AM. Jumping to the intraday high of $2.959 as the report was released, volatile trading took hold over the following two hours as the contract sank to the intraday low of $2.930 near 12:30PM. Recovering into the afternoon, September closed higher on Thursday at $2.955.
The EIA Natural Gas Storage Report published on Thursday showed a 46 BCF injection to storage for the week ended August 3rd – just below the market estimate of 48 BCF. Total working gas in storage was reported as 2,354 BCF; 22.2% below this time last year and 19.5% below the five-year average.
This morning in Globex, WTI Crude was up 43 cents; Natural Gas was down three cents; Heating Oil was up one cent; and, Gasoline was down two cents.
Natural Gas Glossary
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