Thursday, October 9th saw the front-month NYMEX Natural Gas contract open at $3.365, $0.032 above Wednesday’s closing price of $3.333. Achieving the intraday high of $3.393 by 9:15AM, prices fell to trade along $3.340 leading up to the weekly storage report. Directed lower by the bearish-leaning injection, the contract crossed midday at $3.298 and tallied the intraday low of $3.253 at 2:20PM. November closed lower on Thursday at $3.269.
The EIA Natural Gas Storage Report published last Thursday posted an 80 BCF injection to storage for the week ended October 3 – in line with the market estimate of a 75 BCF injection. Total working gas in storage was reported at 3,641 BCF; 0.6% above this time last year and 4.5% above the five-year average.
As of 7:10AM this morning in Globex, WTI Crude was down $0.740; Natural Gas was down $0.088; Heating Oil was down $0.015; and Gasoline was down $0.012.
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