Friday, August 13th saw the front-month NYMEX Natural Gas Futures Contract open at $3.914, two cents below Thursday’s closing price of $3.933. Posting a choppy ascent to the intraday high of $3.953, prices then slowly declined as Tropical Storm Fred will bring rain and reduced CDDs to Florida and Gulf Coast in the coming week. Crossing midday near $3.926 and marking an intraday low of $3.873 ahead of 2:30PM, September closed lower on Friday at $3.861, down nearly 7% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 49 BCF injection to storage for the week ended August 6th – in line with the market estimate of 48 BCF. Total working gas in storage was reported as 2,776 BCF; 16.5% below this time last year and 6.0% below the five-year average.
As of 6:05AM EST this morning in Globex, WTI Crude was down 93 cents; Natural Gas was down two cents; Heating Oil was down two cents; and Gasoline was down three cents.
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