Tuesday, September 16th saw the front-month NYMEX Natural Gas contract open at $3.074, $0.030 above Monday’s closing price of $3.043. Treading cautiously higher through the morning to trade along $3.080, aside from a brief dip to the intraday low of $3.047 at 10:45AM, prices continued upward to reach the intraday high of $3.138 ahead of midday. Buoyed by late season cooling demand, October closed higher on Tuesday at $3.103.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show an 83 BCF injection to storage for the week ended September 12. This compares to a 58 BCF injection this time last year and a five-year average injection amount of 74 BCF.
As of 7:25AM this morning in Globex, WTI Crude was down $0.510; Natural Gas was up $0.030; Heating Oil was down $0.021; and Gasoline was down $0.012.
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842