Friday, September 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.261, a penny above Thursday’s closing price of $2.254. In an up and down day, the contract fluctuated along the $2.260 mark as traders weighed the previous session’s storage report against waning cooling demand. Marking the intraday high of $2.284 at 10:15AM and falling to the intraday low of $2.232 ahead of midday, October ultimately finished higher on Friday to close at $2.275.
The EIA Natural Gas Storage Report published last Thursday showed a 13 BCF injection to storage for the week ended August 30 – below the market estimate of a 28 BCF injection. Total working gas in storage was reported as 3,347 BCF; 6.6% above this time last year and 10.7% above the five-year average.
As of 6:45AM EST this morning in Globex, WTI Crude was up 42 cents; Natural Gas was down nine cents; Heating Oil was up two cents; and Gasoline was up three cents.
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