Tuesday, September 2nd saw the front-month NYMEX Natural Gas contract open at $2.877, $0.120 below Friday’s closing price of $2.997. Marking the intraday low of $2.873 within minutes of the opening bell, the contract then worked to recover losses incurred over the long weekend. Climbing gradually higher throughout the session to reach the intraday high of $3.015 at 2:25PM, October closed higher on Tuesday at $3.009.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 55 BCF injection to storage for the week ended August 29. This compares to a 13 BCF injection this time last year and a five-year average injection amount of 36 BCF.
As of 7:00AM this morning in Globex, WTI Crude was down $1.460; Natural Gas was down $0.023; Heating Oil was down $0.009; and Gasoline was down $0.036.
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