September NYMEX Natural Gas Futures Contract Closed at $2.112 on Wednesday, August 7th

Wednesday, August 7th saw the front-month NYMEX Natural Gas Futures Contract open at $2.099, nine cents above Tuesday’s closing price of $2.010. Recording the intraday low of $2.059 multiple times leading up to 10:30AM, the contract then continued its pre-market opening ascent as prices had drifted into oversold territory in the last week. Ascending to the intraday high of $2.120 ahead of 2:30PM, September closed higher on Wednesday at $2.112.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 30 BCF injection to storage for the week ended August 2nd. This compares to a 29 BCF injection this time last year and a five-year average injection amount of 38 BCF.

As of 7:10AM EST this morning in Globex, WTI Crude was up seven cents; Natural Gas was down three cents; Heating Oil was down one cent; and Gasoline was flat.

                                                                                                       
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