Thursday, November 10th saw the December NYMEX Natural Gas Futures Contract open at $6.033, seventeen cents above Wednesday’s closing price of $5.865. Marking the intraday low of $5.945 ahead of 10:00AM, the contract moved sideways ahead of the weekly storage publication. Jumping to $6.156 as the report hit the wire, prices traded along either side of $6.100 to maintain overnight weather-induced gains. Marking the intraday high of $6.259 ahead of 2:30PM, December closed $6.239.
The EIA Natural Gas Storage Report published on Thursday showed a 79 BCF injection to storage for the week ended November 4 – in line with the market estimate of 75 BCF. Total working gas in storage was reported as 3,580 BCF; 1.0% below this time last year and 2.1% below the five-year average.
As of 8:15AM EST this morning in Globex, WTI Crude was up $2.34 cents; Natural Gas was up two cents; Heating Oil was up seven cents; and Gasoline was up five cents.
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