August 25, 2022
Wednesday, August 24
th saw the September NYMEX Natural Gas Futures Contract open at $9.232, four cents above Tuesday’s closing price $9.193. Falling to an intraday low of $9.100 near 10:30AM, news of the LNG terminals returning to service later than anticipated seems to have offset the bullish momentum brought on by the latest energy news out of Europe. Climbing to an intraday high of $9.455 at 12:25PM, prices trading sideways near $9.360 for the balance of the session. September closed higher on Wednesday at $9.330.
The October contract blazed a similar trail to finish fifteen higher, closing at $9.300 for the day.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 58 BCF injection to storage for the week ended August 19. This compares to a 29 BCF injection at this time last year and a five-year average injection amount of 46 BCF.
As of 8:10AM EST this morning in Globex, WTI Crude was up 43 cents; Natural Gas was up five cents; Heating Oil was up eight cents; and Gasoline was down two cent2.
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