Tuesday, September 23rd saw the front-month NYMEX Natural Gas contract open at $2.790, $0.016 below Monday’s closing price of $2.806. Recording the intraday low of $2.779 within minutes of the opening bell, prices rose soon thereafter as traders eyed the impending contract settlement. Overlooking current supply levels and comfortable temperatures, the contract ascended to an intraday high of $2.868 at 2:05PM. October closed higher on Tuesday at $2.853.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 78 BCF injection to storage for the week ended September 19. This compares to a 48 BCF injection this time last year and a five-year average injection amount of 76 BCF.
As of 7:15AM this morning in Globex, WTI Crude was up $0.700; Natural Gas was down $0.024; Heating Oil was up $0.022; and Gasoline was up $0.013.
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