Friday, September 26th saw the front-month NYMEX Natural Gas contract open at $2.881, $0.023 below Thursday’s closing price of $2.904. October settled lower on Friday at $2.835.
Ready to assume the front-month position, the November contract opened $0.007 lower at $3.192. Falling to an intraday low of $3.122 at 9:55AM, prices recovered to opening-territory levels by midday. Recording this intraday high of $3.211 at 2:25PM, November closed higher on Friday at $3.206; up 0.5% on the week.
The EIA Natural Gas Storage Report published last Thursday posted a 75 BCF injection to storage for the week ended September 19 – in line with the market estimate of a 79 BCF injection. Total working gas in storage was reported as 3,508 BCF; 0.6% above this time last year and 6.1% above the five-year average.
As of 6:15AM this morning in Globex, WTI Crude was down $1.100; Natural Gas was up $0.004; Heating Oil was down $0.035; and Gasoline was down $0.015.
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