November NYMEX Natural Gas Futures Contract Closed at $2.234 on Wednesday, October 9th

Wednesday, October 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.267, two cents below Tuesday’s closing price of $2.288.  Ascending to an intraday high of $2.301 by 9:40AM, bulls then seemingly ran out of steam as prices sloped lower until finding support near $2.275.  Trading sideways until midday, the contract retreated further into the day to record an intraday low of $2.229 at 2:10PM.  November closed lower on Wednesday at $2.234.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 101 BCF injection to storage for the week ended October 4th. This compares to a 90 BCF injection at this time last year and a five-year average injection amount of 89 BCF.

As of 8:55AM EST this morning in Globex, WTI Crude was up 52 cents; Natural Gas was up one cent; Heating Oil was up one cent; and Gasoline was up one cent. 
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