Wednesday, September 18th saw the front-month NYMEX Natural Gas Futures Contract open at $2.360, four cents above Tuesday’s closing price of $2.324. Recording the intraday high of $2.364 by 9:30AM, prices withdrew near 10:00AM to trade along $2.305. Lacking any bullish catalysts, the contract remained subdued for the balance of the session; marking the intraday low of $2.275 at 11:55AM. October closed lower on Wednesday at $2.284.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 53 BCF injection to storage for the week ended September 13th. This compares to a 64 BCF injection this time last year and a five-year average injection amount of 80 BCF.
As of 6:40AM EST this morning in Globex, WTI Crude was up 43 cents; Natural Gas was up one cent; Heating Oil was up one cent; and Gasoline was up two cents.
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.
