September 18, 2023
Friday, September 15
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.675, three cents below Thursday’s closing price of $2.708. Climbing early on to achieve an intraday high of $2.728 by 9:45AM, the contract then began a steady descent that would span the balance of the session. Battling healthy storage levels and forecasted comfortable temperatures, October fell to an intraday low of $2.641 at 1:05PM, ultimately closing lower on Friday at $2.644.
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 6:30AM EST this morning in Globex, WTI Crude was up 61 cents; Natural Gas was up one cent; Heating Oil was down four cents; and Gasoline was down slightly.
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