August 11, 2021
Tuesday, August 10
th saw the front-month NYMEX Natural Gas Futures Contract open at $4.043, two cents below Monday’s closing price of $4.060. Marking the intraday low of $4.042 as markets opened and an intraday high of $4.126 at 9:50AM, as prices bounced back from the previous day’s sell-off. With fewer cooling-degree days in the latest forecast and a decline in LNG exports, the contract fought off any additional losses on Tuesday as September closed higher at $4.089.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 45 BCF injection to storage for the week ended August 6
th. This compares to a 58 BCF injection at this time last year and a five-year average injection amount of 42 BCF.
As of 6:40AM EST this morning in Globex, WTI Crude was down 62 cents; Natural Gas was down one cent; Heating Oil was down one cent; and Gasoline was down three cents.
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