Monday, October 20th saw the front-month NYMEX Natural Gas contract open at $3.230, $0.222 above Friday’s closing price of $3.008. Prices were up early on as updated forecasts brought news of a cold blast of weather to move in by month end. Posting a staggered ascent throughout the session, strong LNG exports provided additional support as the contract crossed midday at $3.304 and tallied an intraday high of $3.403 at 2:25PM. November closed higher on Monday at $3.397.
The EIA Natural Gas Storage Report published last Thursday posted an 80 BCF injection to storage for the week ended October 10 – in line with the market estimate of an 82 BCF injection. Total working gas in storage was reported at 3,721 BCF; 0.7% above this time last year and 4.3% above the five-year average.
As of 6:40AM this morning in Globex, WTI Crude was up $0.530; Natural Gas was up $0.033; Heating Oil was up $0.012; and Gasoline was up $0.006.
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