Tuesday, October 11th saw the November NYMEX Natural Gas Futures Contract open at $6.495, six cents above Monday’s closing price of $6.435. Seeking direction throughout the day as prices wavered within a twenty-five-cent range, a brief ascent out of the gate then saw the contract fall to an intraday low of $6.418 by 10:45AM. Recovering to reach an intraday high of $6.671 at 1:20PM, November closed higher on Tuesday at $6.596.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 136 BCF injection to storage for the week ended October 7. This compares to an 81 BCF injection at this time last year and a five-year average injection amount of 82 BCF.
As of 7:40AM EST this morning in Globex, WTI Crude was up 22 cents; Natural Gas was up eight cents; Heating Oil was up six cents; and Gasoline was up two cents.
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