October NYMEX Natural Gas Futures Contract Closed at $4.712 on Friday, September 3rd

Market Insights
Natural Gas
September 7, 2021
Friday, September 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $4.716, seven cents above Thursday’s closing price of $4.641. Lacking volatility heading into the long weekend, the contract traded within a tight band near $4.690 for the majority of the day, marking an intraday high of $4.718 following the opening bell and an intraday low of $4.657 at 10:20AM. October closed higher on Friday at $4.712, up nearly 8% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 20 BCF injection to storage for the week ended August 27th – below the market estimate of 32 BCF. Total working gas in storage was reported as 2,871 BCF; 16.8% below this time last year and 7.2% below the five-year average.
As of 5:50AM EST this morning in Globex, WTI Crude was down 45 cents; Natural Gas was down six cents; Heating Oil was down two cents; and Gasoline was down one cent.
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