Friday, October 25th saw the front-month NYMEX Natural Gas Futures Contract open at $2.490, down $0.032 compared to Thursday’s closing price of $2.522. Marking the intraday low of $2.478 at 10:15AM, prices hovered near $2.500 throughout the morning. The contract found buyers later in the day as traders aimed to position themselves ahead of the contract’s pending settlement. Recording the intraday high of $2.579 at 2:05PM, November closed higher on Friday at $2.560; up 13.4% on the week.
The EIA Natural Gas Storage Report published on Thursday showed an 80 BCF injection to storage for the week ended October 18 – above the market estimate of a 64 BCF injection. Total working gas in storage was reported as 3,785 BCF; 2.9% above this time last year and 4.6% above the five-year average.
As of 7:30AM this morning in Globex, WTI Crude was down $4.21; Natural Gas was down $0.131; Heating Oil was down $0.096, and Gasoline was down $0.102.
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