Thursday, September 25th saw the front-month NYMEX Natural Gas contract open at $2.934, $0.076 above Wednesday’s closing price of $2.858. Stabilizing near $2.940 in the hour leading up to the weekly storage publication as traders squared their positions ahead of settlement, prices rose to the intraday high of $2.968 at 11:00AM following the in-line storage injection. Pulling back as the session drew on to record an intraday low of $2.850 at 1:15PM, October then rallied to finish higher on Thursday at $2.904.
The November contract posted a similar session, closing $0.062 higher at $3.195.
The EIA Natural Gas Storage Report published on Thursday posted a 75 BCF injection to storage for the week ended September 19 – in line with the market estimate of a 79 BCF injection. Total working gas in storage was reported as 3,508 BCF; 0.6% above this time last year and 6.1% above the five-year average.
As of 7:20AM this morning in Globex, WTI Crude was up $0.030; Natural Gas was down $0.001; Heating Oil was down $0.007; and Gasoline was up $0.005.
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