September 6, 2022
Friday, September 2
nd saw the October NYMEX Natural Gas Futures Contract open at $9.088, seventeen cents below Thursday’s closing price of $9.262. Marking the intraday high of $9.090 moments after the opening bell rang, prices began a gradual descent until reaching an intraday low of $8.619 at 11:40AM. Trading near $8.825 for the balance of the day, steady production kept a lid on any late-day rallies. October closed lower on Friday at $8.786; 5.5% on the week.
The NYMEX was closed on Monday September 5, 2022 in observance of Labor Day.
The EIA Natural Gas Storage Report published on Thursday showed a 61 BCF injection to storage for the week ended August 26 – in line with the market estimate of 57 BCF. Total working gas in storage was reported as 2,640 BCF; 7.9% below this time last year and 11.3% below the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was down 46 cents; Natural Gas was down 21 cents; Heating Oil was up three cents; and Gasoline was down one cent.
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