Wednesday, October 16th saw the front-month NYMEX Natural Gas Futures Contract open at $2.444, down $0.054 compared to Tuesday’s closing price of $2.498. Recording the intraday high at markets opened, the contract dwindled lower throughout the session as more comfortable temperatures are forecasted to return in the coming week. Crossing midday at $2.408, prices slipped to an intraday low of $2.358 ahead of 2:30PM. November closed lower on Wednesday at $2.367.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 79 BCF injection to storage for the week ended October 11th. This compares to a 97 BCF injection this time last year and a five-year average injection amount of 89 BCF.
As of 6:40AM this morning in Globex, WTI Crude was down $0.090; Natural Gas was up $0.007; Heating Oil was down $0.003, and Gasoline was down $0.005.
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.
