November 2, 2022
Tuesday, October 1
st saw the December NYMEX Natural Gas Futures Contract open at $6.003, thirty-five cents below Monday’s closing price of $6.355. Tallying the intraday high of $6.049 soon after the opening bell, prices pulled back throughout the day as the latest forecasts have shifted to bearish. Crossing midday at $5.797 and recording an intraday low of $5.614 at 1:15PM, December closed lower on Tuesday at $5.714.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 98 BCF injection to storage for the week ended October 21. This compares to a 63 BCF injection at this time last year and a five-year average injection amount of 45 BCF.
As of 6:55AM EST this morning in Globex, WTI Crude was down 14 cents; Natural Gas was up 17 cents; Heating Oil was down two cents; and Gasoline was up slightly.
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