October NYMEX Natural Gas Futures Contract Closed at $4.914 on Wednesday, September 8th

Market Insights
Natural Gas
Basis
NYMEX
September 9, 2021
Wednesday, September 8th saw the front-month NYMEX Natural Gas Futures Contract open at $4.655, nine cents above Tuesday’s closing price of $4.568. Marking the intraday low of $4.649 at 9:15AM, prices then surged higher as shut-ins persist and new storms are threatening. Reaching $4.877 by 9:20AM, the contract continued upward until reaching a seven year intraday high of $5.010.  Posting a staggered decent throughout the day, October closed higher on Wednesday at $4.914.
 
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 36 BCF injection to storage for the week ended August 27th.  This compares to a 70 BCF injection at this time last year and a five-year average injection amount of 65 BCF.
 
As of 6:50AM EST this morning in Globex, WTI Crude was up 15 cents; Natural Gas was up three cents; Heating Oil was unchanged; and Gasoline was up one cent.
 
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.