Friday, October 17th saw the front-month NYMEX Natural Gas contract open at $2.948, $0.010 above Thursday’s closing price of $2.938. Marking the intraday low of $2.936 at 9:15AM, the contract found support after treading into oversold territory the past few sessions. Crossing midday at $3.005 and achieving an intraday high of $3.024 at 12:50PM, November closed higher on Friday at $3.008; down 3.2% on the week.
The EIA Natural Gas Storage Report published last Thursday posted an 80 BCF injection to storage for the week ended October 10 – in line with the market estimate of an 82 BCF injection. Total working gas in storage was reported at 3,721 BCF; 0.7% above this time last year and 4.3% above the five-year average.
As of 6:50AM this morning in Globex, WTI Crude was down $0.380; Natural Gas was up $0.191; Heating Oil was down $0.002; and Gasoline was down $0.015.
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