Tuesday, September 13th saw the October NYMEX Natural Gas Futures Contract open at $8.403, fifteen cents above Monday’s closing price of 8.249. Recording the intraday high of $8.412 as the opening bell rang out across the land, scared higher overnight due to production concerns, prices floated gradually lower throughout the day. Using the $8.300 level as support, the contract slipped to an intraday low of $8.155 at 1:25PM, ultimately closing slightly higher on Tuesday at $8.284.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 71 BCF injection to storage for the week ended September 9. This compares to an 83 BCF injection at this time last year and a five-year average injection amount of 82 BCF.
As of 6:45AM EST this morning in Globex, WTI Crude was up 56 cents; Natural Gas was up nine cents; Heating Oil was down two cents; and Gasoline was up one cent.
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