September NYMEX Natural Gas Futures Contract Closed at $8.266 on Wednesday, August 3rd

Market Insights
Natural Gas
August 4, 2022
Wednesday, August 3rd saw the September NYMEX Natural Gas Futures Contract open at $7.745, four cents above Tuesday’s closing price $7.706. Trading within a ten-cent range of $7.650 through 1:00PM, marking the intraday low of $7.550 at 11:10AM, the contract mounted a steep ascent to close out the day. News of the Freeport LNG terminal returning to operation in October in a larger role than was previously expected, sent princes urging to the intraday high of $8.480 at 2:00PM. September closed higher on Wednesday at $8.266.

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 July 29. This compares to a 13 BCF injection at this time last year and a five-year average injection amount of 33 BCF.

As of 7:50AM EST this morning in Globex, WTI Crude was up 38 cents; Natural Gas was up 13 cents; Heating Oil was up one cent; and Gasoline was down one cent.
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