October 2, 2023
Friday, September 29
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.882, six cents below Thursday’s closing price of $2.945. Recording the intraday low of $2.855 by 9:15AM, prices rose for the duration of the session despite the previous day’s healthy injection and bearish weather forecasts. Crossing midday at $2.953, the contract tallied a seven-week intraday high of $2.978 at 2:00PM. November closer lower on Friday at $2.929.
The EIA Natural Gas Storage Report published on Thursday showed a 90 BCF injection to storage for the week ended September 22 – in line with the market estimate of 90 BCF. Total working gas in storage was reported as 3,359 BCF; 13.4% above this time last year and 6.0% above the five-year average.
As of 6:10AM EST this morning in Globex, WTI Crude was up 83 cents; Natural Gas was down slightly; Heating Oil was up two cents; and Gasoline was up three cents.
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