October NYMEX Natural Gas Futures Contract Closed at $6.651 on Tuesday, September 27th

Tuesday, September 27th saw the October NYMEX Natural Gas Futures Contract open at $6.920, two cents above Monday’s closing price of $6.903. Seeking direction as prices fluctuated within a thirteen-cent range of $6.840 throughout the morning and into the afternoon, traders were tasked with weighing multiple factors, geopolitical tensions in Europe, healthy domestic production, and Hurricane Ian in the Gulf of Mexico. Marking an intraday high of $6.975 at 11:20AM and an intraday low of $6.617 ahead of 2:30PM, October closed lower on Tuesday at $6.651.

The November contract closed twenty-five cents lower at $6.760.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 101 BCF injection to storage for the week ended September 23. This compares to an 88 BCF injection at this time last year and a five-year average injection amount of 77 BCF.

As of 7:55AM EST this morning in Globex, WTI Crude was up 42 cents; Natural Gas was down 14 cents; Heating Oil was up five cents; and Gasoline was up one cent.

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