October NYMEX Natural Gas Futures Contract Closed at $2.551 on Tuesday, September 24th

Tuesday, September 24th saw the front-month NYMEX Natural Gas Futures Contract open at $2.607, $0.006 below Monday’s closing price of $2.613. Chopping around within three cents of $2.610 throughout the morning, marking an intraday high of $2.638 at 9:15AM, the contract trended lower shortly after midday. Receiving continued support from the latest tropical storm in the Gulf, while keeping an eye on Thursday’s impending contract settlement, prices fell to an intraday low of $2.535 at 2:25PM. October closed lower on Tuesday at $2.551.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 54 BCF injection to storage for the week ended September 20th. This compares to a 90 BCF injection this time last year and a five-year average injection amount of 88 BCF.

As of 6:40AM EST this morning in Globex, WTI Crude was down 59 cents; Natural Gas was up four cents; Heating Oil was flat; 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.

This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.

Related Articles

Concerns Over Output Disruptions in Libya Eased

septembre 26th, 2024
October NYMEX Natural Gas Futures Contract Closed at $2.637 on Wednesday, September 25th

septembre 26th, 2024
The Crude Market Traded Higher on News of Monetary Stimulus in China

septembre 25th, 2024
The Market Weighed Escalating Tensions in the Middle East Against Continuing Concerns Over Demand

septembre 24th, 2024
October NYMEX Natural Gas Futures Contract Closed at $2.613 on Monday, September 23rd

septembre 24th, 2024
The October WTI Contract Posted an Inside Trading Day on its Expiration

septembre 23rd, 2024
October NYMEX Natural Gas Futures Contract Closed at $2.434 on Friday, September 20th

septembre 23rd, 2024
Federal Reserve’s Decision to Cut Interest Rates by Half a Percentage Point

septembre 20th, 2024
October NYMEX Natural Gas Futures Contract Closed at $2.348 on Thursday, September 19th

septembre 20th, 2024
The Market Positioned Itself Ahead of a Potentially Bullish Impact of a U.S. Interest Rate Cut

septembre 19th, 2024