October 8, 2021
Thursday, October 7
th saw the front-month NYMEX Natural Gas Futures Contract open at $5.615, six cents below Wednesday’s closing price of $5.675. Tallying an intraday high of $5.741 soon after the opening bell, prices withdrew to trade near $5.565 heading into the 10:30AM storage publication. Falling to an intraday low of $5.450 as the bearish report hit the wire, the contract then posted a modest ascent that would span the balance of the day. November closed nearly flat on Thursday at $5.677.
The EIA Natural Gas Storage Report published on Thursday showed a 118 BCF injection to storage for the week ended October 1 – above the market estimate of 107 BCF. Total working gas in storage was reported as 3,288 BCF; 13.9% below this time last year and 5.1% below the five-year average.
As of 6:25AM EST this morning in Globex, WTI Crude was up 72 cents; Natural Gas was down three cents; Heating Oil was up two cents; and Gasoline was up one cent.
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