October 15, 2021
Thursday, October 14th saw the front-month NYMEX Natural Gas Futures Contract open at $5.821, twenty-three cents above Wednesday’s closing price of $5.590. Trading sideways near $5.810 heading into the weekly storage publication, prices surged to an intraday high of $5.964 as the bullish report hit the wire. Pulling back for the balance of the day, as weather forecasts remain mild, the contract fell to an intraday low of $5.672 ahead of 2:30PM. November closed higher on Thursday at $5.687.
The EIA Natural Gas Storage Report published on Thursday showed an 81 BCF injection to storage for the week ended October 8 – below the market estimate of 111 BCF. Total working gas in storage was reported as 3,369 BCF; 12.9% below this time last year and 4.9% below the five-year average.
As of 6:40AM EST this morning in Globex, WTI Crude was up 73 cents; Natural Gas was up four cents; Heating Oil was up two cents; and Gasoline was up one cent.
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