September 5, 2019
Wednesday, September 4
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.384, nearly three cents above Tuesday’s closing price of $2.358. Searching for direction through 10:00AM as prices traded between an intraday low of $2.370 and $2.400, markets then built enough momentum to grind higher. Surpassing $2.405 by midday, the contract rose steadily into the afternoon until jumping to an eight-week intraday high of $2.457 ahead of 2:30PM, as October closed higher on Wednesday at $2.445.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 76 BCF injection to storage for the week ended August 30
th. This compares to a 63 BCF injection at this time last year and a five-year average injection amount of 66 BCF.
As of 8:30AM EST this morning in Globex, WTI Crude was up 11 cents; Natural Gas was down one cent; Heating Oil was up slightly; and Gasoline was up slightly.
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