Wednesday, August 28th saw the front-month NYMEX Natural Gas Futures Contract open at $1.890, a penny below Tuesday’s closing price of $1.904. Marking a four-month intraday low of $1.856 within minutes of the open, the contract posted a solid recovery effort throughout the session, as September settled higher on Wednesday at $1.930.
The October contract opened at $2.056, three cents below Tuesday’s closing price of $2.085. Posting a gradual ascent that spanned into the afternoon, as traders squared their positions ahead of settlement. Reaching an intraday high of $2.140 at 12:45PM, October closed higher on Wednesday at $2.097.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 39 BCF injection to storage for the week ended August 23rd. This compares to a 32 BCF injection this time last year and a five-year average injection amount of 43 BCF.
As of 7:25AM EST this morning in Globex, WTI Crude was up 24 cents; Natural Gas was down one cent; Heating Oil was up one cent; and Gasoline was flats.
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