November 1, 2023
Tuesday, October 31
st saw the front-month NYMEX Natural Gas Futures Contract open at $3.417, six cents above Monday’s closing price of $3.352. Dipping to the intraday low of $3.415 out of the gate, prices moved confidently higher through the morning as short-term weather forecasts shifted cooler overnight. Ascending to $3.559 by midday, the contract continued its climb to achieve an intraday high of $3.630 at 1:55PM. December closed higher on Tuesday at $3.575.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 81 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 90 cents; Natural Gas was down eight cents; Heating Oil was up three cents; and Gasoline was up two cents.
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