On Thursday, August 29th – the October NYMEX Natural Gas Futures Contract began trading as the prompt month. Opening at $2.261, four cents above Wednesday’s closing price of $2.222, prices straddled the $2.28 level through 10:30AM as the weekly storage publication drew near. Initially falling to an intraday low of $2.251 by 10:40AM, the contract rose into the afternoon to reach an intraday high of $2.310 two hours later. October closed higher on Thursday at $2.296.
The EIA Natural Gas Storage Report published on Thursday showed a 60 BCF injection to storage week ended August 23rd – even with the market estimate. Total working gas in storage was reported at 2,857 BCF: 14.6% above this time last year and 3.4% below the five-year average.
As of 8:55AM EST this morning in Globex, WTI Crude was down 22 cents; Natural Gas was down three cents; Heating Oil was down one cent; and Gasoline was down two cents.
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