August 27, 2020
Wednesday, August 26
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.517, three cents above Tuesday’s closing price of $2.489. Volatile trading throughout the morning saw prices fluctuate within a five-cent range, climbing to an intraday high of $2.527 at 11:40AM. Trending lower into the afternoon and falling to an intraday low of $2.450 at 2:20PM, September closed lower on Wednesday at $2.461. Set to take the front-month position on Friday, the October contract closed lower as well at $2.574.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 47 BCF injection to storage for the week ended August 21
st. This compares to a 60 BCF injection at this time last year and a five-year average injection amount of 49 BCF.
As of 7:30AM EST this morning in Globex, WTI Crude was down 35 cents; Natural Gas was up three cents; Heating Oil was down one cent; and Gasoline was down four cents.
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