October 20, 2022
Wednesday, October 19
th saw the November NYMEX Natural Gas Futures Contract open at $5.604, fourteen cents below Tuesday’s closing price of $5.745. Trading along either side of $5.570 through 10:30AM, marking an intraday high of $5.627 along the way, prices trended marginally lower in the afternoon. With little change to the already bearish forecast and market fundamentals, November recorded an intraday low of $5.444 at 2:25PM and finished lower on Wednesday at $5.462.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 105 BCF injection to storage for the week ended October 14. This compares to a 92 BCF injection at this time last year and a five-year average injection amount of 73 BCF.
As of 7:10AM EST this morning in Globex, WTI Crude was up $1.43; Natural Gas was up six cents; Heating Oil was down four cents; and Gasoline was up two cents.
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