November NYMEX Natural Gas Futures Contract Closed at $3.338 on Friday, October 6th

The Sprague Natural Gas MarketWatch will be on hiatus for the rest of this week, returning Monday October 16th.

Friday, October 6th saw the front-month NYMEX Natural Gas Futures Contract open at $3.196, three cents above Thursday’s closing price of $3.166. Slipping to the intraday low of $3.191 soon after the opening bell, the contract continued its storage and weather induced rally from the previous day. Crossing midday at $3.300, prices rose confidently into the closing minutes of the day. November recorded an eight-month intra-day high of $3.346 at 2:23PM and proceeded to close at $3.338.

The EIA Natural Gas Storage Report published last Thursday showed an 86 BCF injection to storage for the week ended September 29 – below the market estimate of 97 BCF. Total working gas in storage was report-ed as 3,445 BCF; 11.6% above this time last year and 5.3% above the five-year average.

As of 9:30 AM EST this morning in Globex, WTI Crude was three dollars and nine cents; Natural Gas was up one cent; Heating Oil was up four cents; and Gasoline was up five cents.

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