October 25, 2019
Thursday, October 24
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.304, two cents above Wednesday’s closing price of $2.282. Seesawing along $2.300 through 10:30AM, the contract broke down despite news of the injection coming in on the low side of expectations. Recording an intraday low of $2.269 at 10:45AM prices recovered ahead of midday, supported by updated weather forecasts. Rising to an intraday high of $2.342 at 12:40PM, November finished higher on Thursday at $2.316.
The EIA Natural Gas Storage Report published on Thursday showed an 87 BCF injection to storage for the week ended October 18
th – below the market estimate of 91 BCF. Total working gas in storage was reported at 3,606 BCF: 16.8% above this time last year and 0.8% below the five-year average.
As of 9:00AM EST this morning in Globex, WTI Crude was down 43 cents; Natural Gas was down three cents; Heating Oil was down two cents; and Gasoline was down one cent.
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