October NYMEX Natural Gas Futures Contract Closed at $4.805 on Wednesday, September 22nd

Wednesday, September 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $4.856, five cents above Tuesday’s closing price of $4.805. Marking the intraday high of $4.861 within minutes of the open, prices slipped to the intraday low of $4.787 by 9:20AM. With little to no changes in market fundamentals since the previous day, due to easing demand and no storm activity in the Gulf, the contract traded within a tight band near $4.810 for the majority of the session. October closed even with the previous day on Wednesday at $4.805.
 
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 82 BCF injection to storage for the week ended September 17th. This compares to a 66 BCF injection at this time last year and a five-year average injection amount of 74 BCF.
 
As of 7:30AM EST this morning in Globex, WTI Crude was down 38 cents; Natural Gas was up one cent; Heating Oil was down one cent; and Gasoline was down two cents. 
 
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