Wednesday, September 28
th saw the October NYMEX Natural Gas Futures Contract open at $6.635, two cents below Tuesday’s closing price of $6.651. October settled higher at $6.868
Set to take over the prompt month position, the November contract opened at $6.764, just above Tuesday’s closing price of $6.760. Trading near $6.670 through the morning hours, marking the intraday low of $6.617 at 11:30AM, prices then rose into the afternoon. News of damage to Nord Stream 1 and 2 abroad, Hurricane Ian in the Gulf, and October’s settlement all contributed to the day’s activity. November closed higher on Wednesday at $6.955.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 101 BCF injection to storage for the week ended September 23. This compares to an 88 BCF injection at this time last year and a five-year average injection amount of 77 BCF.
As of 7:40AM EST this morning in Globex, WTI Crude was up 34 cents; Natural Gas was up eight cents; Heating Oil was up four cents; and Gasoline was down two cents.
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