On Wednesday, August 30th – the October NYMEX Natural Gas Futures Contracts began trading as the prompt month. Opening at the intraday high of $2.962, two cents below Tuesday’s closing price of $2.983, prices tumbled lower to find the intraday low of $2.928 by 10:10AM. Recovering soon thereafter, the contract proceeded to seesaw along the $2.94 mark for the balance of the day, as October closed lower on Wednesday at $2.939.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 30 BCF injection to storage for the week ended August 25th. This compares to a 51 BCF injection at this time last year and a five-year average injection amount of 67 BCF.
This morning in Globex, WTI Crude was up 41 cents; Natural Gas was down two cents; Heating Oil was up two cents; and, Gasoline was up 13 cents. Additionally, cash prices were mixed in New York and lower in New England.
Natural Gas Glossary
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