Tuesday, September 22nd saw the front-month NYMEX Natural Gas contract open at $2.847, $0.011 above Monday’s closing price of $2.836. Marking the intraday low of $2.836 by 9:15AM, prices then rose into the morning as production levels fell to a nearly two-month low. Overlooking lower LNG exports, due to annual maintenance, the contract crossed midday at $2.929 and recorded the intraday high of $2.966 at 1:05PM. October closed higher on Tuesday at $2.965.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 56 BCF injection to storage for the week ended September 18. This compares to a 75 BCF injection this time last year and a five-year average injection amount of 76 BCF.
In Globex, as of 6:40AM this morning, WTI Crude was down $0.850; Natural Gas was up $0.073; Heating Oil was down $0.046; and Gasoline was up $0.035.
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