September NYMEX Natural Gas Futures Contract Closed at $8.134 on Thursday, July 28th

Thursday, July 28th saw the September NYMEX Natural Gas Futures Contract open at $8.602, five cents above Wednesday’s closing price of $8.554. Seeking direction along either side of $8.600 heading into 10:30AM, prices jumped to an intraday high of $8.845 as the weekly report hit the wire. Losing ground soon thereafter, traders shook off the bullish injection as the contract fell to an intraday low of $8.115 at 1:30PM. September closed lower on Thursday at $8.134.

The EIA Natural Gas Storage Report published on Thursday showed a 15 BCF injection to storage for the week ended July 22 – in line with the market estimate of 19 BCF. Total working gas in storage was reported as 2,416 BCF; 10.8% below this time last year and 12.5% below the five-year average.

As of 7:40AM EST this morning in Globex, WTI Crude was $2.36; Natural Gas was up eight cents; Heating Oil was down slightly; and Gasoline was up seven cents.

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