August 24, 2018
Thursday, August 23
rd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.941, nearly two cents below Wednesday’s closing price of $2.956. Seeking direction as prices seesawed within a one-cent range of $2.945 through 10:30AM, the contract spiked as high as $2.966 as the weekly storage publication reported an injection that was in line with both market expectations and the five-year average. Stepping higher into the afternoon to reach an intraday high of $2.982 at 1:10PM, September closed higher on Thursday at $2.964.
The EIA Natural Gas Storage Report published on Thursday showed a 48 BCF injection to storage for the week ended August 17
th – just below the market estimate of 50 BCF. Total working gas in storage was reported as 2,435 BCF; 21.9% below this time last year and 19.7% below the five-year average.
This morning in Globex, WTI Crude was up 82 cents; Natural Gas was down one cent; Heating Oil was up two cents; and, Gasoline was up two cents.
Natural Gas Glossary
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