August 18, 2023
Thursday, August 17
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.627, nearly four cents above Wednesday’s closing price of $2.592. Ascending to the intraday high of $2.670 at 10:00AM, prices were hovering near $2.650 as the weekly storage publication released thirty minutes later. Pulling back to tally the intraday low of $2.611 at 11:30AM and again at 2:20PM, September closed slightly higher on Thursday at $2.621.
The EIA Natural Gas Storage Report published on Thursday showed a 35 BCF injection to storage for the week ended August 11 – in line with the market estimate of 39 BCF. Total working gas in storage was reported as 3,065 BCF; 21.8% above this time last year and 10.8% above the five-year average.
As of 7:25 AM EST this morning in Globex, WTI Crude was down 21 cents; Natural Gas was down four cents; Heating Oil was down two cents; and Gasoline was down three cents.
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