September 25, 2023
Friday, September 22
nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.678, nearly seven cents above Thursday’s closing price of $2.610. Recording the intraday high of $2.681 within minutes of the open, the contract arced lower to stabilize near $2.630 by 10:00AM. Driven lower by bearish short-term weather conditions, prices dipped to the intraday low of $2.602 at 11:05AM and proceeded to traded sideways near $2.630 for the balance of the session. October closed higher on Friday at $2.637.
The EIA Natural Gas Storage Report published on Thursday showed a 64 BCF injection to storage for the week ended September 15 – in line with the market estimate of 64 BCF. Total working gas in storage was reported as 3,269 BCF; 14.3% above this time last year and 5.9% above the five-year average.
As of 6:30AM EST this morning in Globex, WTI Crude was up 20 cents; Natural Gas was down one cent; Heating Oil was up one cent; and Gasoline was up one cent.
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