October NYMEX Natural Gas Futures Contract Closed at $5.335 on Thursday, September 16th

Market Insights
Natural Gas
September 17, 2021
Thursday, September 16th saw the front-month NYMEX Natural Gas Futures Contract open at $5.468, twenty-one cents above Tuesday’s closing price of $5.460.  Surging to an intraday high of $5.600 within minutes of the opening bell, the contract came crashing down in the subsequent thirty minutes to trade near the opening mark.  Trading along either side of $5.320 heading into the weekly storage release, prices fell to the intraday low of $5.243 as the report hit the wire.  Straddling $5.300 for the majority of the afternoon, October closed lower on Thursday at $5.335.

The EIA Natural Gas Storage Report published on Thursday showed an 83 BCF injection to storage for the week ended September 10 – above below the market estimate of 74 BCF.  Total working gas in storage was reported as 3,006 BCF; 16.5% below this time last year and 7.1% below the five-year average.

As of 6:15AM EST this morning in Globex, WTI Crude was down 58 cents; Natural Gas was unchanged; Heating Oil was down one cent; and Gasoline was down two cents.
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