August 15, 2022
Friday, August 12
th saw the September NYMEX Natural Gas Futures Contract open at $8.718, sixteen cents below Thursday’s closing price $8.874. Marking the intraday low of $8.657 out of the gate, the contract posted an unsteady ascent through the morning. Peaking at the intraday high of $8.919 at midday, no material changes to fundamentals made for a quiet day. September closed lower on Friday at $8.768; up nearly 9% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 44 BCF injection to storage for the week ended August 5 – in line with the market estimate of 40 BCF. Total working gas in storage was reported as 2,501 BCF; 9.7% below this time last year and 11.9% below the five-year average.
As of 7:45AM EST this morning in Globex, WTI Crude was down $4.78; Natural Gas was down 15 cents; Heating Oil was down 12 cents; and Gasoline was down 12 cents.
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