October 26, 2018
Thursday, October 25
th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.205, four cents above Wednesday’s closing price of $3.166. Fluctuating along either side of $3.195 through 10:30AM, the larger than expected EIA storage injection then directed prices to the intraday low of $3.153. Rallying in the following thirty minutes to reach the intraday high of $3.233, the contract seesawed along $3.205 for the balance of the day as weather continues to play a key role in the market’s volatility. November closed higher on Thursday at $3.202.
The EIA Natural Gas Storage Report published on Thursday showed a 58 BCF injection to storage for the week ended October 19
th – above the market estimate of 55 BCF. Total working gas in storage was reported as 3,095 BCF; 16.4% below this time last year and 16.8% below the five-year average.
This morning in Globex, WTI Crude was down 65 cents; Natural Gas was down five cents; Heating Oil was down slightly; and, Gasoline was down two cents.
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