September 8, 2022
Wednesday, September 7
th saw the October NYMEX Natural Gas Futures Contract open at $8.038, eleven cents below Tuesday’s closing price of $8.145. Struggling to find support over the past few sessions following Fall-like temperatures and the announcement of a new EPA rule limiting LNG pollution, prices floated along either side of $7.880 for the majority of the day. Marking an intraday high of $8.076 out of the gate and a four-week intraday low of $7.808 at 12:30PM, October closed lower on Wednesday at $7.842.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 52 BCF injection to storage for the week ended September 2. This compares to a 52 BCF injection at this time last year and a five-year average injection amount of 82 BCF.
As of 7:45AM EST this morning in Globex, WTI Crude was up 31 cents; Natural Gas was up one cent; Heating Oil was down one cent; and Gasoline was up two cents.
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