Tuesday, September 24th saw the front-month NYMEX Natural Gas Futures Contract open at $2.607, $0.006 below Monday’s closing price of $2.613. Chopping around within three cents of $2.610 throughout the morning, marking an intraday high of $2.638 at 9:15AM, the contract trended lower shortly after midday. Receiving continued support from the latest tropical storm in the Gulf, while keeping an eye on Thursday’s impending contract settlement, prices fell to an intraday low of $2.535 at 2:25PM. October closed lower on Tuesday at $2.551.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 54 BCF injection to storage for the week ended September 20th. This compares to a 90 BCF injection this time last year and a five-year average injection amount of 88 BCF.
As of 6:40AM EST this morning in Globex, WTI Crude was down 59 cents; Natural Gas was up four cents; Heating Oil was flat; and Gasoline was down two cents.
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.
