October NYMEX Natural Gas Futures Contracts Closed at $2.908 on Wednesday, September 19th

Wednesday, September 19th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.916, nearly two cents below Tuesday’s closing price of $2.933.  Directed higher out of the gate to reach the intraday high of $2.937 at 9:40AM, the contract exhausted its resources and soon moved lower.  Assessing market fundamentals ahead of Thursday’s storage report, October trended lower for the balance of the day to close lower on Wednesday at $2.908.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show an 83 BCF injection to storage for the week ended September 14th.  This compares to a 97 BCF injection at this time last year and a five-year average injection amount of 76 BCF.
Natural Gas Glossary
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