Thursday, September 12th saw the front-month NYMEX Natural Gas Futures Contract open at $2.529, two cents below Wednesday’s closing price of $2.552. Jumping to $2.550 as markets opened only to fall back to $2.535 by 9:30AM, prices floated along this mark until the weekly storage release an hour later. Climbing as high as $2.578 as the storage injection came in on the lower side of expectations, the contract fought to hold onto this ascent in the following hours as the market dipped to $2.537 at midday and battled back to an intraday high of $2.585 at 1:20PM. October closed higher on Thursday at $2.574.
The EIA Natural Gas Storage Report published on Thursday showed a 78 BCF injection to storage week ended September 6th – below the market estimate of 83 BCF. Total working gas in storage was reported at 3,019 BCF: 15.0% above this time last year and 2.5% below the five-year average.
As of 8:55AM EST this morning in Globex, WTI Crude was up 44 cents; Natural Gas was down one cent; Heating Oil was down slightly; and Gasoline was up slightly.
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