Tuesday, August 26th saw the front-month NYMEX Natural Gas contract open at $2.705, $0.009 above Monday’s closing price of $2.696. In a volatile day of trading, ahead of Wednesday’s settlement, prices fell to mark an intraday low of $2.654 at 9:55AM and an intraday high of $2.731 at 11:55AM. September closed higher on Tuesday at $2.717.
The more actively traded October contract closed $0.017 lower at $2.790.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 32 BCF injection to storage for the week ended August 22. This compares to a 35 BCF injection this time last year and a five-year average injection amount of 38 BCF.
As of 7:00AM this morning in Globex, WTI Crude was down $0.120; Natural Gas was down $0.012; Heating Oil was down $0.007; and Gasoline was up $0.004.
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