October NYMEX Natural Gas Futures Contract Closed at $9.262 on Thursday, September 1st

Thursday, September 1^st saw the October NYMEX Natural Gas Futures Contract open at $9.153, three cents above Wednesday’s closing price of $9.127. Marking the intraday low of $9.106 within minutes of the open, prices rose and stabilized near $9.260 by 9:30AM leading up to the weekly storage report. Initially slipping below $9.150 as the publication hit the wire at 10:30AM, the contract recovered to reach an intraday high of $9.394 nearly twenty minutes later. Trading sideways through the afternoon, October closed higher on Thursday at $9.262.

The EIA Natural Gas Storage Report published on Thursday showed a 61 BCF injection to storage for the week ended August 26 – in line with the market estimate of 57 BCF. Total working gas in storage was reported as 2,640 BCF; 7.9% below this time last year and 11.3% below the five-year average.

As of 6:55AM EST this morning in Globex, WTI Crude was up $1.97; Natural Gas was down 20 cents; Heating Oil was unchanged; and Gasoline was up eight cents.

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