Tuesday, August 20th saw the front-month NYMEX Natural Gas Futures Contract open at $2.225, a penny below Monday’s closing price of $2.235. Pulling back prior to the opening bell, the day’s opening price ended up being the intraday high as traders weighed near-term cooling demand against stout storage supplies. Trading within a tight band near $2.190, marking the intraday low of $2.173 at 11:25AM and 12:55PM, September closed lower on Tuesday at $2.198.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 25 BCF injection to storage for the week ended August 16th. This compares to an 18 BCF injection this time last year and a five-year average injection amount of 41 BCF.
As of 8:15AM EST this morning in Globex, WTI Crude was up 20 cents; Natural Gas was up two cents; Heating Oil was up two cents; and Gasoline was flat.
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