Wednesday, October 20th saw the front-month NYMEX Natural Gas Futures Contract open at $4.965, twelve cents below Tuesday’s closing price of $5.088. Falling to an intraday low of $4.912 by 9:30AM, prices were then directed higher to continue the previous day’s bullish-production induced ascent. Crossing midday near $5.089, the contract rose to an intraday high of $5.221 at 1:50PM. November closed higher on Wednesday at $5.170.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 80 BCF injection to storage for the week ended October 15. This compares to a 49 BCF injection at this time last year and a five-year average injection amount of 69 BCF.
As of 7:00AM EST this morning in Globex, WTI Crude was down 61 cents; Natural Gas was down six cents; Heating Oil was down four cents; and Gasoline was down three cents.
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