August 11, 2022
Wednesday, August 10
th saw the September NYMEX Natural Gas Futures Contract open at $7.790, four cents below Tuesday’s closing price $7.833. Falling to the intraday low of $7.725 by 9:15AM prices rose steadily throughout the morning to cross midday at $8.029. Production concerns and news regarding the Freeport terminal provided bullish support as prices rose to a near two-week intraday high of $8.263 at 2:00PM. September closed higher on Wednesday at $8.202.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 40 BCF injection to storage for the week ended August 5. This compares to a 49 BCF injection at this time last year and a five-year average injection amount of 45 BCF.
As of 7:30AM EST this morning in Globex, WTI Crude was up 60 cents; Natural Gas was up 24 cents; Heating Oil was up six cents; and Gasoline was up two cents.
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