November NYMEX Natural Gas Futures Contract Closed at $3.166 on Thursday, October 5th

Thursday, October 5th saw the front-month NYMEX Natural Gas Futures Contract open at $3.026, six cents above Wednesday’s closing price of $2.962. Marking the intraday low of $3.020 shortly after 9:00AM, prices rose to the $3.060 level leading up to the weekly storage report. Spiking to $3.131 as the bullish storage injection hit the wire, the contract continued its upward trajectory into the afternoon as analysts contributed the smaller-than-average build to pipeline maintenance. Recording a fresh eight-month intraday high of $3.205 at 1:35PM, November closed higher on Thursday at $3.166.

The EIA Natural Gas Storage Report published on Thursday showed an 86 BCF injection to storage for the week ended September 29 – below the market estimate of 97 BCF. Total working gas in storage was reported as 3,445 BCF; 11.6% above this time last year and 5.3% above the five-year average.

As of 6:30 AM EST this morning in Globex, WTI Crude was up four cents; Natural Gas was up one cent; Heating Oil was up one cent; and Gasoline was up two cents.

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