Wednesday, August 22nd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.974, slightly below Tuesday’s closing price of $2.980. Coming off Tuesday’s near two-month high, prices fluctuated along the $2.97 level through 10:30AM, hitting an intraday high of $2.976 along the way. Losing two cents in the session’s final hours, September reached the intraday low of $2.953 before closing lower on Wednesday at $2.956.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 50 BCF injection to storage for the week ended August 17th. This compares to a 43 BCF injection at this time last year and a five-year average injection amount of 52 BCF.
This morning in Globex, WTI Crude was down four cents; Natural Gas was down two cents; Heating Oil was down slightly; and, Gasoline was down one cent.
New York and New England basis values were higher for the coming winter months and unchanged for the following winter season, whereas New England basis values were higher for all seasons. Additionally, cash prices were slightly lower in New York and New England.
Natural Gas Glossary
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