Friday, September 19th saw the front-month NYMEX Natural Gas contract open at $2.876, $0.063 below Thursday’s closing price of $2.939. With summer coming to an end and comfortable temperatures setting in, prices marked the intraday low of $2.866 at 9:20AM. Recording the intraday high of $2.922 nearly an hour later, the contract traded within a tight band near $2.885 for the remainder of the session. October closed lower on Friday at $2.888; down 1.8% on the week.
The EIA Natural Gas Storage Report published last Thursday posted a 90 BCF injection to storage for the week ended September 12 – above the market estimate of an 83 BCF injection. Total working gas in storage was reported as 3,433 BCF; 0.1% below this time last year and 6.3% above the five-year average.
As of 7:00AM this morning in Globex, WTI Crude was down $0.310; Natural Gas was down $0.014; Heating Oil was down $0.015; and Gasoline was down $0.013.
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