On Wednesday, September 26th – settlement day for the October contract – the front-month NYMEX Natural Gas Futures Contracts opened at $3.072, a penny below Tuesday’s closing price of $3.082. Trading upward to the intraday high of $3.088 by 11:20AM, revised short-term forecasts for moderate temperatures covering much of the east coast then directed prices lower through the afternoon. October settled lower on Wednesday at $3.021. Similarly, the November contract peaked at $3.062 at 11:20AM before declining over the balance of the session, closing lower at $2.980.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 52 BCF injection to storage for the week ended September 21st. This compares to a 58 BCF injection at this time last year and a five-year average injection amount of 81 BCF.
This morning in Globex, WTI Crude was up 79 cents; Natural Gas was up one cent; Heating Oil was up two cents; and, Gasoline was up one cent.
Natural Gas Glossary
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