August 23, 2019
Thursday, August 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.176, just above Wednesday’s closing price of $2.170. Fluctuating along either side of $2.175 through 10:30AM, prices jumped to an intraday high of $2.195 as the storage injection came in on the low side of expectations. Stepping lower to stabilize near $2.165 by 11:20AM and persisting into the afternoon, the contract fell in the final thirty minutes of the day as September closed lower on Thursday at $2.159.
The EIA Natural Gas Storage Report published on Thursday showed a 59 BCF injection to storage week ended August 16th – below the market estimate of 65 BCF. Total working gas in storage was reported at 2,797 BCF: 15.2% above this time last year and 3.6% below the five-year average.
As of 8:49AM EST this morning in Globex, WTI Crude was down $1.69; Natural Gas was down 3 cents; Heat-ing Oil was down 3 cents; and Gasoline was down 3 cents.
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