Friday, September 25th saw the front-month NYMEX Natural Gas contract open at $3.189, $0.108 below Thursday’s closing price of $3.297. Trending lower overnight, profit-taking took hold early on following the three-day rally, prices touched down to an intraday low of $3.090 at 10:35AM. Battling upward through midday, the contract recorded an intraday high of $3.234 at 2:15PM. October closed lower on Friday at $3.196; up 9.8% on the week.
The EIA Natural Gas Storage Report published last Thursday posted a 53 BCF injection to storage for the week ended September 18 – in line with the market estimate of 56 BCF. Working gas in storage was reported as 3,351 BCF; 4.2% below this time last year and 2.9% above the five-year average.
In Globex, as of 6:45AM this morning, WTI Crude was up $3.880; Natural Gas was down $0.147; Heating Oil was up $0.167; and Gasoline was up $0.051.
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