October 27, 2021
Tuesday, October 26
th saw the front-month NYMEX Natural Gas Futures Contract open at $5.795, ten cents below Monday’s closing price of $5.898. Slipping to an intraday low of $5.595 by 10:00AM, prices then trended higher due to bullish weather forecasts, the impending contract expiration, and anticipated LNG demand. Crossing midday near $5.726 and continuing on to an intraday high of $5.936 at 2:00PM, November closed lower on Tuesday at $5.882.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 94 BCF injection to storage for the week ended October 22. This compares to a 29 BCF injection at this time last year and a five-year average injection amount of 62 BCF.
As of 6:15AM EST this morning in Globex, WTI Crude was down $1.14; Natural Gas was down five cents; Heating Oil was down three cents; and Gasoline was down three cents.
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