August 23, 2021
Friday, August 20th saw the front-month NYMEX Natural Gas Futures Contract open at $3.929, ten cents above Thursday’s closing price of $3.830. Tallying an intraday high of $3.951 soon after the open as traders capped off the overnight rally, forecasted above average helped to overcome the previous session’s bearish storage injection. Withdrawing to cross midday near $3.905, September marked an intraday low of $3.846 at 2:20PM, closing higher on Friday at $3.851.
The EIA Natural Gas Storage Report published on Thursday showed a 46 BCF injection to storage for the week ended August 13th – above the market estimate of 30 BCF. Total working gas in storage was reported as 2,822 BCF; 16.2% below this time last year and 5.8% below the five-year average.
As of 7:10AM EST this morning in Globex, WTI Crude was up $1.82; Natural Gas was up eight cents; Heating Oil was up five cents; and Gasoline up four cents.
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