Wednesday, September 27
th saw the October NYMEX Natural Gas Futures Contract settle at $2.764, nearly eleven cents above Tuesday’s closing price of $2.656.
The more actively traded November contract opened at $2.897, five cents above Tuesday’s closing price of $2.845. Recording the intraday low of $2.863 ahead of 9:30AM, the contract moved higher in the following hour to surpass $2.925. Supported by continued pipeline maintenance, overlooking a bearish weather outlook, prices rose to tally the intraday high of $2.947 at 12:55PM. November closed higher on Wednesday at $2.899.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 90 BCF injection to storage for the week ended September 22nd. This compares to a 103 BCF injection at this time last year and a five-year average injection amount of 84 BCF.
As of 6:30AM EST this morning in Globex, WTI Crude was down 53 cents; Natural Gas was down three cents; Heating Oil was up one cent; and Gasoline was down two cents.
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