Tuesday, September 15th saw the front-month NYMEX Natural Gas contract open at $2.940, $0.044 above Monday’s closing price of 2.896. Ascending to an intraday high of $2.952 ahead of 10:00AM, traders continued to assess strong cooling and LNG demand against stout storage levels and impending should-month weather. Trading along either side of $2.910 into the afternoon, marking the intraday low of $2.897 at 1:15PM, October closed higher on Tuesday at $2.919.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 47 BCF injection to storage for the week ended September 11. This compares to a 90 BCF injection this time last year and a five-year average injection amount of 74 BCF.
In Globex, as of 7:25AM this morning, WTI Crude was down $2.440; Natural Gas was up $0.015; Heating Oil was down $0.019; and Gasoline was down $0.043.
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