October 22, 2021
Thursday, October 21
st saw the front-month NYMEX Natural Gas Futures Contract open at $5.092, eight cents below Wednesday’s closing price of $5.170. Trading along either side of $5.085 heading into the weekly storage publication, prices edged lower following the release of the bearish report to tally an intraday low of $5.006 at 11:10AM. Managing a staggered ascent throughout the afternoon to reach an intraday high of $5.165 at 1:30PM, November closed lower on Thursday at $5.115.
The EIA Natural Gas Storage Report published on Thursday showed a 92 BCF injection to storage for the week ended October 15 – above the market estimate of 80 BCF. Total working gas in storage was reported as 3,461 BCF; 11.7% below this time last year and 4.2% below the five-year average.
As of 7:10AM EST this morning in Globex, WTI Crude was up 56 cents; Natural Gas was up seven cents; Heating Oil was up one cent; and Gasoline was up two cents.
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