Thursday, October 17th saw the front-month NYMEX Natural Gas Futures Contract open at $2.400, up $0.033 compared to Wednesday’s closing price of $2.367. Seesawing along $2.390 leading up to the weekly storage publication, prices jumped to an intraday high of $2.417 as the report hit the wire. Pulling back for the balance of the session as weather forecasts remained unsupportive, the contract recorded an intraday low of $2.338 at 2:00PM. November closed lower on Thursday at $2.347.
The EIA Natural Gas Storage Report published last Thursday showed a 76 BCF injection to storage for the week ended October 11 – in line with the market estimate of a 79 BCF injection. Total working gas in storage was reported as 3,705 BCF; 3.0% above this time last year and 4.6% above the five-year average.
As of 6:55AM this morning in Globex, WTI Crude was down $0.500; Natural Gas was down $0.002; Heating Oil was down $0.015, and Gasoline was down $0.012.
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