October 23, 2020
Thursday, October 22
nd saw the front-month NYMEX Natural Gas Futures Contract open at $3.004, two cents below Wednesday’s closing price $3.023. Falling to $2.988 soon after the opening bell, prices crept up to the $3.030 level ahead of 10:30AM. Jumping to $3.034 as the weekly publication hit the wire, the contract rose in the subsequent two hours to record an intraday of $3.066 at 12:30PM. Withdrawing into the afternoon to reach an intraday low of $2.982 at 2:10PM, the November contract closed lower on Thursday at $3.007.
The EIA Natural Gas Storage Report published on Thursday showed a 49 BCF injection to storage for the week ended October 16
th – above the market estimate of 39 BCF. Total working gas in storage was reported as 3,926 BCF: 9.6% above this time last year and 9.1% above the five-year average.
As of 8:45AM EST this morning in Globex, WTI Crude was up 13 cents; Natural Gas was down three cents; Heating Oil was up slightly; and Gasoline was down slightly.
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