November NYMEX Natural Gas Futures Contract Closed at $5.280 on Friday, October 22nd

Market Insights
Natural Gas
October 25, 2021
Friday, October 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $5.325, twenty-one cents above Thursday’s closing price of $5.115.  Ascending to an intraday high of $5.379 as calls for cooler temperatures come November have entered the forecast, the contract soon lost momentum. Trending lower to mark an intraday low of $5.163 ahead of midday, prices rose to close out the day. November closed higher on Friday at $5.280, down 2% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 92 BCF injection to storage for the week ended October 15 – above the market estimate of 80 BCF.  Total working gas in storage was reported as 3,461 BCF; 11.7% below this time last year and 4.2% below the five-year average.
As of 6:30AM EST this morning in Globex, WTI Crude was up 69 cents; Natural Gas was up 28 cents; Heating Oil was up two cents; and Gasoline was up three cents.
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