Wednesday, October 22nd saw the front-month NYMEX Natural Gas contract open at $3.522, $0.048 above Tuesday’s closing price of $3.474. Achieving the intraday high of $3.553 early on as overnight forecasts provided support, prices soon trended lower. Marking the intraday low of $3.386 at midday, the contract rebounded into the afternoon as November closed lower on Wednesday at $3.450.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show an 81 BCF injection to storage for the week ended October 17. This compares to a 79 BCF injection this time last year and a five-year average injection amount of 77 BCF.
As of 9:10AM this morning in Globex, WTI Crude was up $3.490; Natural Gas was down $0.062; Heating Oil was up $0.133; and Gasoline was up $0.069.
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