Monday, September 21st saw the front-month NYMEX Natural Gas contract open at $2.851, $0.061 below Friday’s closing price of $2.912. Losing ground in pre-market trading, as cooler temperatures take hold and schedules LNG maintenance limits exports, a brief ascension to the intraday high of $2.878 ahead of 10:00AM, soon gave way to additional selling. Trading near $2.845 heading into midday, prices dipped to an intraday low of $2.835 at 12:55PM. October closed lower on Monday at $2.836.
The EIA Natural Gas Storage Report published last Thursday posted a 44 BCF injection to storage for the week ended September 11 – in line with the market estimate of 47 BCF. Working gas in storage was reported as 3,298 BCF; 3.6% below this time last year and 3.7% above the five-year average.
In Globex, as of 8:10AM this morning, WTI Crude was down $2.620; Natural Gas was up $0.010; Heating Oil was down $0.088; and Gasoline was down $0.003.
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842
