October NYMEX Natural Gas Futures Contract Closed at $2.610 on Thursday, September 21st

Thursday, September 21st saw the front-month NYMEX Natural Gas Futures Contract open at $2.700, three cents below Wednesday’s closing price of $2.733. Rising steadily to reach $2.730 by 9:30AM, the contract was trading near $2.740 as the weekly storage publication drew near. Posting a momentary jump to the intraday high of $2.759 in the minutes following the report, prices then withdrew as the injection paled in comparison to historical injections. Crossing midday $2.655, the contract withdrew into the afternoon to mark the intraday low of $2.605 ahead of 2:30PM. October closed lower on Thursday at $2.610.

The EIA Natural Gas Storage Report published on Thursday showed a 64 BCF injection to storage for the week ended September 15 – in line with the market estimate of 64 BCF. Total working gas in storage was reported as 3,269 BCF; 14.3% above this time last year and 5.9% above the five-year average.

As of 6:40AM EST this morning in Globex, WTI Crude was up $1.13; Natural Gas was up three cents; Heating Oil was up five cents; and Gasoline was up one cent.
                                                      
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
 

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This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.