October NYMEX Natural Gas Futures Contract Closed at $7.764 on Friday, September 16th

Market Insights
Natural Gas
September 19, 2022
Friday, September 16th saw the October NYMEX Natural Gas Futures Contract open at $8.022, thirty cents below Thursday’s closing price of $8.324. Lacking any material changes to fundamentals, the contract traded along either side of the $8.00 level through midday; marking an intraday high of $8.068 at 9:20AM. Trending lower into the afternoon, reaching an intraday low of $7.717 at 2:25PM, October closed lower on Friday at $7.764; down 3% on the week.

The EIA Natural Gas Storage Report published on Thursday showed a 77 BCF injection to storage for the week ended September 9 – above the market estimate of 71 BCF. Total working gas in storage was reported as 2,771 BCF; 7.4% below this time last year and 11.3% below the five-year average.

As of 7:05AM EST this morning in Globex, WTI Crude was down $1.77; Natural Gas was down 18 cents; Heating Oil was down three cents; and Gasoline was down six cents.

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