Friday, September 16th saw the October NYMEX Natural Gas Futures Contract open at $8.022, thirty cents below Thursday’s closing price of $8.324. Lacking any material changes to fundamentals, the contract traded along either side of the $8.00 level through midday; marking an intraday high of $8.068 at 9:20AM. Trending lower into the afternoon, reaching an intraday low of $7.717 at 2:25PM, October closed lower on Friday at $7.764; down 3% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 77 BCF injection to storage for the week ended September 9 – above the market estimate of 71 BCF. Total working gas in storage was reported as 2,771 BCF; 7.4% below this time last year and 11.3% below the five-year average.
As of 7:05AM EST this morning in Globex, WTI Crude was down $1.77; Natural Gas was down 18 cents; Heating Oil was down three cents; and Gasoline was down six cents.
Natural Gas Glossary
Natural Gas Supplier
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.
