Wednesday, August 10th saw the September NYMEX Natural Gas Futures Contract open at $7.790, four cents below Tuesday’s closing price $7.833. Falling to the intraday low of $7.725 by 9:15AM prices rose steadily throughout the morning to cross midday at $8.029. Production concerns and news regarding the Freeport terminal provided bullish support as prices rose to a near two-week intraday high of $8.263 at 2:00PM. September closed higher on Wednesday at $8.202.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 40 BCF injection to storage for the week ended August 5. This compares to a 49 BCF injection at this time last year and a five-year average injection amount of 45 BCF.
As of 7:30AM EST this morning in Globex, WTI Crude was up 60 cents; Natural Gas was up 24 cents; Heating Oil was up six cents; and Gasoline was up two cents.
Natural Gas Glossary
Natural Gas Supplier
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.