November 4, 2022
Thursday, October 3
rd saw the December NYMEX Natural Gas Futures Contract open at $6.033, twenty-three cents below Wednesday’s closing price of $6.268. Achieving the intraday high of $6.169 by 9:15AM, prices traded along either side of $6.080 heading into the weekly storage publication. Fluctuating within twenty-two cents in the two hours following the report’s release, December trended lower into the after to finish lower on the day at $5.975.
The EIA Natural Gas Storage Report published on Thursday showed a 107 BCF injection to storage for the week ended October 28 – above the market estimate of 98 BCF. Total working gas in storage was reported as 3,501 BCF; 2.8% below this time last year and 3.7% below the five-year average.
As of 7:40AM EST this morning in Globex, WTI Crude was up $3.19; Natural Gas was up 26 cents; Heating Oil was up five cents; and Gasoline was up nine cents.
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