November 3, 2022
Wednesday, November 2
nd saw the December NYMEX Natural Gas Futures Contract open at $6.095, thirty-eight cents above Tuesday’s closing price of $5.714. Posting a steady ascent that would span the duration of the session, a bullish shift to overnight forecasts were enough to recoup the previous day’s losses. Marking the intraday low of $6.053 ahead of 10:00AM and the intraday high of $6.303 at 2:25PM, December closed higher on Wednesday at $6.268.
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 8:35AM EST this morning in Globex, WTI Crude was down $1.29; Natural Gas was down 28 cents; Heating Oil was down two cents; and Gasoline was down slightly.
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