Wednesday, August 20th saw the front-month NYMEX Natural Gas contract open at $2.758, $0.008 below Tuesday’s closing price of $2.766. Recording the intraday high of $2.777 at 9:25AM and the intraday low of $2.729 at 10:50AM, fundamentals remained largely unchanged throughout the session. Crossing midday at $2.760, September closed lower on Wednesday at $2.752.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show an 18 BCF injection to storage for the week ended August 15. This compares to a 35 BCF injection this time last year and a five-year average injection amount of 38 BCF.
As of 8:40AM this morning in Globex, WTI Crude was up $0.210; Natural Gas was up $0.040; Heating Oil was down $0.003; and Gasoline was up $0.007.
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842