November NYMEX Natural Gas Futures Contracts Closed at $3.198 on Thursday, October 18th

Thursday, October 18th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.256, roughly six cents below Wednesday’s closing price of $3.320.  Settling near $3.240 by 9:30AM the contract then took pause as the weekly storage release drew near.  Ascending to the intraday high of $3.269 as the report hit the wire, volatility took hold over the following ninety minutes before ultimately sinking lower into the afternoon.  Despite bullish weather forecasts, November marked the intraday low of $3.193 at 2:00PM and closed lower on Thursday at $3.198.

The EIA Natural Gas Storage Report published on Thursday showed an 81 BCF injection to storage for the week ended October 12th –below the market estimate of 85 BCF.  Total working gas in storage was reported as 3,037 BCF; 16.5% below this time last year and 16.6% below the five-year average.

Natural Gas Glossary
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