Wednesday, September 12th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.850, two cents above Tuesday’s closing price of $2.828. Riding a wave a pre-market weather induced buying, the contract tallied the intraday high of $2.869 as markets opened. Collapsing from the $2.86 mark at 10:00AM to find the intraday low of $2.818 an hour later, October seesawed along $2.830 into the afternoon before closing nearly even on Wednesday at $2.829.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 67 BCF injection to storage for the week ended September 7th. This compares to a 91 BCF injection at this time last year and a five-year average injection amount of 74 BCF.
This morning in Globex, WTI Crude was down 78 cents; Natural Gas was up two cents; Heating Oil was down slightly; and, Gasoline was down one cent.
Natural Gas Glossary
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