October 18, 2023
Tuesday, October 17
th saw the front-month NYMEX Natural Gas Futures Contract open at $3.126, nearly two cents above Monday’s closing price of $3.109. Recording the intraday high of $3.127 within minutes of the open, the contract was directed lower once again as production remains healthy and weather unsupportive. Falling to an intraday low of $3.024 ahead of midday, prices traded along either side of $3.070 through the afternoon hours as November closed lower on Tuesday at $3.079.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 80 BCF injection to storage for the week ended October 13
th. This compares to a 111 BCF injection at this time last year and a five-year average injection amount of 85 BCF.
As of 6:30 AM EST this morning in Globex, WTI Crude was up $2.69; Natural Gas was up slightly; Heating Oil was up one cent; and Gasoline was up five cents.
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