September NYMEX Natural Gas Futures Contract Closed at $2.143 on Wednesday, August 14th

Wednesday, August 14th, saw the front-month NYMEX Natural Gas Futures Contract open at $2.169, slightly above Tuesday’s closing price of $2.147. Immediately after open, prices hit an intraday high of $2.171 at 9:00AM. Following the intraday high, prices fell quickly, and sloped downwards to their intraday low of $2.122 at 2:10PM. Prices recovered, however, and bounced back to close at $2.143. There are now no tropical cyclones expected in the Gulf of Mexico or Atlantic for the next 48 hours.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 55 BCF injection to storage for the week ended August 9th. This compares to a 48 BCF injection at this time last year and a five-year average injection amount of 52 BCF.

As of 9:00 EST this morning in Globex, WTI Crude was down 26 cents; Natural Gas was up 3 cents; Heating Oil was down one cent; and Gasoline was one cent.

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