September 19, 2023
Monday, September 18
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.684, four cents above Friday’s closing price of $2.644. Slipping to the intraday low of $2.630 at 9:15AM, the contract then moved decidedly higher to tally the intraday high of $2.783 at 10:35AM. As production worries continue, prices traded along $2.720 through the afternoon. October closed higher on Monday at $2.728.
The EIA Natural Gas Storage Report published last 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 6:55AM EST this morning in Globex, WTI Crude was up $1.02; Natural Gas was down one cent; Heating Oil was up one cent; and Gasoline was down slightly.
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