Wednesday NYMEX Natural Gas Futures Contract Closed at $2.406 on Wednesday, September 9th

Wednesday, September 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.467, nearly seven cents above Tuesday’s closing price of $2.400.  Ascending to an intraday high of $2.480 within minutes of 9:00AM, the contract proceeded to lose 6% in the following ninety minutes.  Recording an intraday low of $2.328 ahead of 11:00AM, traders mounted a staggered climb that would surpass $2.425 by 1:15PM.  Battling continued volatility, October closed slightly higher on Wednesday at $2.406.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 68 BCF injection to storage for the week ended September 4th. This compares to a 78 BCF injection at this time last year and a five-year average injection amount of 68 BCF.

As of 8:35AM EST this morning in Globex, WTI Crude was down 51 cents; Natural Gas was down six cents; Heating Oil was down two cents; and Gasoline was down slightly.

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.
 

Share:
RSS
Follow by Email
Facebook
X (Twitter)

This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.