Wednesday, September 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.018, eighteen cents above Tuesday’s closing price of $1.834. Touching down to an intraday low of $1.973 by 9:15AM, prices surged higher throughout the morning as traders took advantage of the recently diminished contract as colder temperatures have crept back into the forecast. Trading near $2.113 at midday, the contract rose to an intraday high of $2.135 ahead of closing. The October contract finished higher on Wednesday at $2.125.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show am 88 BCF injection to storage for the week ended September 18th. This compares to a 102 BCF injection at this time last year and a five-year average injection amount of 80 BCF.
As of 8:45AM EST this morning in Globex, WTI Crude was down 34 cents; Natural Gas was up 12 cents; Heating Oil was up one cent; and Gasoline was up one cent.
Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.