Tuesday, September 29th saw the front-month NYMEX Natural Gas contract open at $3.060, $0.046 below Monday’s closing price of $3.106. Recording the intraday high of $3.068 within the opening minutes of the day, the contract initially trended lower only to bounce back to trade along $3.060 by midday. With mild forecasts applying pressure, prices slipped to an intraday low of $3.000 at 2:15PM. November closed lower in its debut session at the front-month, closing at $3.011.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 63 BCF injection to storage for the week ended September 25. This compares to a 53 BCF injection this time last year and a five-year average injection amount of 80 BCF.
In Globex, as of 7:25AM this morning, WTI Crude was up $1.160; Natural Gas was up $0.023; Heating Oil was up $0.102; and Gasoline was down $0.030.
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