Natural Gas Market Intel

The Natural Gas group produces a daily MarketWatch blog, providing in-depth market and geopolitical insights to help you understand the key drivers affecting commodity prices and the supply dynamics affecting pricing in the Northeast US markets.

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Latest Post September 22, 2017

October NYMEX Natural Gas Futures Contracts Closed at $2.946 on Thursday, September 21st

Thursday, September 21st, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.061, three cents below Wednesday’s closing price of $3.094.  Entering the market with a bout of selling, prices quickly tumbled to $3.025 where traders then awaited the 10:30AM storage report.  Descending rapidly below $3.00 as the larger-than-expected storage injection was published, the contract withdrew to $2.965 by midday.  Despite forecasts for above-normal temperatures lasting into next week, October fell to the intraday low of $2.942 before closing down on Thursday at $2.946.

The EIA Natural Gas Storage Report published on Thursday showed a 97 BCF injection to storage for the week ended September 15th – above the market estimate of 90 BCF.  Total working gas in storage was reported as 3,408 BCF; 3.8% below this time last year and 2.0% above the five-year average.

This morning in Globex, WTI Crude was down 15 cents; Natural Gas was up slightly; Heating Oil was down slightly; and, Gasoline was up one cent.  Additionally, cash prices were lower in New York and New England.

 

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