October 5, 2022
Tuesday, October 4
th saw the November NYMEX Natural Gas Futures Contract open at $6.453, two cents below Monday’s closing price of $6.470. Marking the intraday low of $6.412 by 9:15AM, prices then rose confidently as pipeline maintenance disrupted production. Crossing midday near $6.690 and ascending to an intraday high of $6.886 at 1:10PM, November closed higher on Monday at $6.837.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 125 BCF injection to storage for the week ended September 30. This compares to a 118 BCF injection at this time last year and a five-year average injection amount of 87 BCF.
As of 7:35AM EST this morning in Globex, WTI Crude was down 40 cents; Natural Gas was down seven cents; Heating Oil was flat; and Gasoline was down five cents.
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