Friday, August 21tst saw the front-month NYMEX Natural Gas contract open at $2.776, $0.043 above Thursday’s closing price of $2.733. Directed higher overnight by a bullish shift in the latest weather models, prices crept upward to record the intraday high of $2.791 at 10:55AM. Trending lower into the afternoon, the contract marked an intraday low of $2.755 at 1:15PM. September closed higher on Friday at $2.773.
The EIA Natural Gas Storage Report published last Thursday posted a 16 BCF injection to storage for the week ended August 14 – in line with the market estimate of 14 BCF. Working gas in storage was reported as 3,169 BCF; 0.9% below this time last year and 6.2% above the five-year average.
In Globex, as of 7:10AM this morning, WTI Crude was down $1.880; Natural Gas was up $0.006; Heating Oil was down $0.121; and Gasoline was up $0.026.
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