Wednesday, September 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.018, eighteen cents above Tuesday’s closing price of $1.834. Touching down to an intraday low of $1.973 by 9:15AM, prices surged higher throughout the morning as traders took advantage of the recently diminished contract as colder temperatures have crept back into the forecast. Trading near $2.113 at midday, the contract rose to an intraday high of $2.135 ahead of closing. The October contract finished higher on Wednesday at $2.125.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show am 88 BCF injection to storage for the week ended September 18th. This compares to a 102 BCF injection at this time last year and a five-year average injection amount of 80 BCF.
As of 8:45AM EST this morning in Globex, WTI Crude was down 34 cents; Natural Gas was up 12 cents; Heating Oil was up one cent; and Gasoline was up one cent.
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