October NYMEX Natural Gas Futures Contract Closed at $7.779 on Wednesday, September 21st

Market Insights
Natural Gas
Basis
NYMEX
September 22, 2022
Wednesday, September 21st saw the October NYMEX Natural Gas Futures Contract open at $7.921, twenty cents above Tuesday’s closing price of $7.717. Marking the intraday high of $7.973 soon after the open, news of additional turmoil in the Ukraine conflict brought in fresh supply concerns. Trending lower to mark the intraday low of $7.560 at 10:45AM, the contract rose modestly into the afternoon to trade along the $7.740 mark. October closed higher on Wednesday at $7.779.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 94 BCF injection to storage for the week ended September 16. This compares to a 76 BCF injection at this time last year and a five-year average injection amount of 81 BCF.

As of 7:00AM EST this morning in Globex, WTI Crude was up 72 cents; Natural Gas was down three cents; Heating Oil was up five cents; and Gasoline was up three cents.

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