November NYMEX Natural Gas Futures Contract Closed at $2.775 on Thursday, October 15th

Thursday, October 15th saw the front-month NYMEX Natural Gas Futures Contract open at $2.795, sixteen cents above Wednesday’s closing price $2.636.  Buoyed overnight by traders squaring their positions ahead of yesterday’s report and a possible increase in LNG demand, as weather remains unsupportive, prices traded gradually higher as the 10:30AM storage report drew near.  Peaking at an intraday high of $2.829 as the publication fell on the low side of expectations, the contract withdrew in the following thirty minutes to tally an intraday low of $2.750.  Straddling $2.780 throughout the afternoon, November closed higher on Thursday at $2.775.

The EIA Natural Gas Storage Report published on Thursday showed a 46 BCF injection to storage for the week ended October 9th – below the market estimate of 51 BCF. Total working gas in storage was reported as 3,877 BCF: 11.1% above this time last year and 10.0% above the five-year average.

As of 8:45AM EST this morning in Globex, WTI Crude was down 29 cents; Natural Gas was up five cents; Heating Oil was down one cent; and Gasoline was down two cents.

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