September 15, 2023
Thursday, September 14
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.782, ten cents above Wednesday’s closing price of $2.680. Trading within four cents of the $2.760 level heading into 10:00AM, marking the intraday high of $2.798 at 9:55AM. Trading at $2.770 as the weekly storage report hit the wire, prices moved lower as the injection landed on the bearish side of expectations. Giving back pre-session gains, the contract fell to an intraday low of $2.700 at 1:45PM. October closed higher on Thursday at $2.708.
The EIA Natural Gas Storage Report published on Thursday showed a 57 BCF injection to storage for the week ended September 8 – in line with the market estimate of 54 BCF. Total working gas in storage was reported as 3,205 BCF; 16.1% above this time last year and 6.8% above the five-year average.
As of 6:40AM EST this morning in Globex, WTI Crude was up 37 cents; Natural Gas was up slightly; Heating Oil was down five cents; and Gasoline was up slightly.
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