October NYMEX Natural Gas Futures Contract Closed at $5.140 on Friday, September 24th

Market Insights
Natural Gas
September 27, 2021
Friday, September 24th saw the front-month NYMEX Natural Gas Futures Contract open at $5.073, ten cents above Thursday’s closing price of $4.976. Falling to an intraday low of $4.990 at 10:00AM, the contract then posted a steady ascent that spanned the balance of the session. After an up and down week, forecasts for above average temperatures have traders betting on increased cooling demand as October closed higher on Friday at $5.140.
The EIA Natural Gas Storage Report published on Thursday showed a 76 BCF injection to storage for the week ended September 17 – below the market estimate of 82 BCF. Total working gas in storage was reported as 3,082 BCF; 16.0% below this time last year and 6.9% below the five-year average.
As of 6:35AM EST this morning in Globex, WTI Crude was up 99 cents; Natural Gas was up 22 cents; Heating Oil was up three cents; and Gasoline was up one cent. 
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