Tuesday, October 19th saw the front-month NYMEX Natural Gas Futures Contract open at $4.860, thirteen cents below Monday’s closing price of $4.989. Recording a fresh one-month intraday low of $4.825 early on, prices then moved confidently higher to cross midday near $5.044. Reaching an intraday high of $5.100 at 1:10PM, bearish weather reports and reduced supply volatility have been the key initiators lately. November closed higher on Tuesday at $5.088.
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 6:45AM EST this morning in Globex, WTI Crude was down 96 cents; Natural Gas was down ten cents; Heating Oil was down three cents; and Gasoline was down four cents.
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