Wednesday, September 30th saw the front-month NYMEX Natural Gas contract open at $3.003, $0.008 below Tuesday’s closing price of $3.011. Monitoring production levels amid largely comfortable fall temperatures, prices dipped to an intraday low of $2.966 at 9:55AM. Fighting to reclaim the $3.000 level, the contract rose into the afternoon reach an intraday high of $3.041 at 2:15PM. November closed higher on Wednesday at $3.026.
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 7:35AM this morning, WTI Crude was up $1.710; Natural Gas was down $0.055; Heating Oil was down $0.057; and Gasoline was up $0.039.
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