Tuesday, September 12th saw the front-month NYMEX Natural Gas Futures Contract open at $2.670, seven cents above Monday’s closing price of $2.608. Trending lower to tally the intraday low of $2.621 at 10:00AM, the contract then mounted a steady ascent due to various disruptions to foreign production. Peaking at the intraday high of $2.782 at 11:25AM, prices hovered near $2.755 for the balance of the day. October closed higher on Tuesday at $2.743.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 54 BCF injection to storage for the week ended September 8th. This compares to a 77 BCF injection at this time last year and a five-year average injection amount of 76 BCF.
As of 6:30AM EST this morning in Globex, WTI Crude was up 52 cents; Natural Gas was down one cent; Heating Oil was up seven cents; and Gasoline was down two cents.
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.
