Wednesday, August 14th, saw the front-month NYMEX Natural Gas Futures Contract open at $2.169, slightly above Tuesday’s closing price of $2.147. Immediately after open, prices hit an intraday high of $2.171 at 9:00AM. Following the intraday high, prices fell quickly, and sloped downwards to their intraday low of $2.122 at 2:10PM. Prices recovered, however, and bounced back to close at $2.143. There are now no tropical cyclones expected in the Gulf of Mexico or Atlantic for the next 48 hours.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 55 BCF injection to storage for the week ended August 9th. This compares to a 48 BCF injection at this time last year and a five-year average injection amount of 52 BCF.
As of 9:00 EST this morning in Globex, WTI Crude was down 26 cents; Natural Gas was up 3 cents; Heating Oil was down one cent; and Gasoline was one cent.
Natural Gas Glossary
Natural Gas Supplier
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.
