October 1, 2021
Thursday, September 30th saw the front-month NYMEX Natural Gas Futures Contract open at $5.637, sixteen cents above Wednesday’s closing price of $5.477. Falling to an intraday low of $5.496 by 10:00AM, the contract rose to $5.535 ahead of the weekly storage publication. Surging higher as the report hit the wire, prices rose to $5.777 at 11:20AM and quickly retreated to the $5.600 level ten minutes later. Posting another ascent that would span the afternoon, November marked an intraday high of $5.895 before closing higher on the day at $5.867.
The EIA Natural Gas Storage Report published on Thursday showed an 88 BCF injection to storage for the week ended September 23 – in line with the market estimate of 86 BCF. Total working gas in storage was reported as 3,170 BCF; 15.4% below this time last year and 6.3% below the five-year average.
As of 6:30AM EST this morning in Globex, WTI Crude was down 48 cents; Natural Gas was unchanged; Heating Oil was down one cent; and Gasoline was up slightly.
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