October 13, 2021
Tuesday, October 12th saw the front-month NYMEX Natural Gas Futures Contract open at $5.242, ten cents below Monday’s closing price of $5.345. Finding a two-week intraday low of $5.210 shortly past 9:00AM, prices moved steadily throughout the morning following the previous day’s selloff. Crossing midday near $5.375, the contract rose to an intraday high of $5.520 ahead of 2:30PM. November closed higher on Tuesday at $5.505.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 111 BCF injection to storage for the week ended October 8. This compares to a 46 BCF injection at this time last year and a five-year average injection amount of 79 BCF.
As of 5:30AM EST this morning in Globex, WTI Crude was down 13 cents; Natural Gas was down twelve cents; Heating Oil was down two cents; and Gasoline was unchanged.
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