Wednesday, September 11th saw the front-month NYMEX Natural Gas Futures Contract open at $2.542, four cents below Tuesday’s closing price of $2.580. Searching for direction early on, prices rose above $2.570 before falling to an intraday low of $2.537 at 9:20AM. Posting a staggered ascent to an intraday high of $2.596 nearly two hours later, volatility continued into the afternoon as the contract fell to the $2.55 level after midday and traded sideways until 2:30PM. October closed lower on Wednesday at $2.552.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show an 83 BCF injection to storage for the week ended September 6th. This compares to a 69 BCF injection at this time last year and a five-year average injection amount of 73 BCF.
As of 8:45AM EST this morning in Globex, WTI Crude was down $1.15; Natural Gas was down 3 cents; Heating Oil was down 4 cents; and Gasoline was down 4 cents.
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