August 5, 2022
Thursday, August 4
th saw the September NYMEX Natural Gas Futures Contract open at $8.247, two cents below Wednesday’s closing price $8.266. Tallying the intraday high of $8.299 within minutes of the open, prices trailed downward to settle near $8.050 ahead of the weekly storage report. Slipping to the intraday low of $7.825 as the bearish report hit the wire, the contract was quick to recover. Crossing midday at $8.169, September closed at $8.122.
The EIA Natural Gas Storage Report published on Thursday showed a 41 BCF injection to storage for the week ended July 29 – in line with the market estimate of 36 BCF. Total working gas in storage was reported as 2,457 BCF; 9.8% below this time last year and 12.1% below the five-year average.
As of 7:50AM EST this morning in Globex, WTI Crude was down 60 cents; Natural Gas was down 16 cents; Heating Oil was down 12 cents; and Gasoline was down one cent.
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