October 31, 2023
Monday, October 30
th saw the front-month NYMEX Natural Gas Futures Contract open at $3.347, nearly fourteen cents below Friday’s closing price of $3.483. Knocked down by updated weather forecasts shedding material degree days for the coming weeks, prices slipped to an intraday low of $3.323 at 9:25AM. Fluctuating along $3.340 for the balance of the day, marking an intraday high of $3.380 at midday, December closed lower on Monday at $3.352.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 85 BCF injection to storage for the week ended October 27
th. This compares to a 102 BCF injection at this time last year and a five-year average injection amount of 57 BCF.
As of 6:40AM EST this morning in Globex, WTI Crude was up 81 cents; Natural Gas was up three cents; Heating Oil was up four cents; and Gasoline was up one cent.
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