August 26, 2022
Thursday, August 25
th saw the September NYMEX Natural Gas Futures Contract open at $9.341, just above Wednesday’s closing price $9.330. In a relatively quiet day, prices traded along either side of $9.360 throughout the morning. Largely ignoring the lackluster weekly storage report, prices marked the intraday high and low, $9.419 and $9.175 respectively, within a matter of minutes of the weekly publication before returning to the $9.360 level. September closed higher on Thursday at $9.375.
The EIA Natural Gas Storage Report published on Thursday showed a 60 BCF injection to storage for the week ended August 19 – in line with the market estimate of 58 BCF. Total working gas in storage was reported as 2,579 BCF; 9.4% below this time last year and 12.0% below the five-year average.
As of 8:20AM EST this morning in Globex, WTI Crude was up 74 cents; Natural Gas was up 11 cents; Heating Oil was up six cents; and Gasoline was up one cent.
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