Thursday, October 27
th saw the November NYMEX Natural Gas Futures Contract open at $5.604, nearly even to Wednesday’s closing price of $5.606. In a light day of trading as the front-month was set to expire, the contract posted an intraday high of $5.625 at 10:30AM and an intraday low of $4.948 ahead of closing. Following the volatile fluctuations ahead of 2:30PM, November settled at $5.186.
The more-actively traded December contract opened at $6.036 and peaked at an intraday high of $6.124 as the weekly storage publication hit the wire. Retreating into the afternoon, December closed lower at $5.875.
The EIA Natural Gas Storage Report published on Thursday showed a 52 BCF injection to storage for the week ended October 21 – below the market estimate of 58 BCF. Total working gas in storage was reported as 3,394 BCF; 4.0% below this time last year and 5.5% below the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was down 68 cents; Natural Gas was down five cents; Heating Oil was up three cents; and Gasoline was down two.
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