August 12, 2021
Wednesday, August 11
th saw the front-month NYMEX Natural Gas Futures Contract open at $4.048, four cents below Tuesday’s closing price of $4.089. Slipping to an intraday low of $3.979 by 9:20AM, the contract spent the balance of the session attempting to recover. Crossing midday near $4.026 and attaining an intraday high of $4.077 at 12:50PM, multiple sources have attributed the previous day’s sell-off to increased wind generation and slowing LNG demand. September closed lower on Wednesday at $4.059.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 48 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 7:10AM EST this morning in Globex, WTI Crude was down 21 cents; Natural Gas was down three cents; Heating Oil was down one cent; and Gasoline was down one cent.
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