Wednesday, September 6th – saw the front-month NYMEX Natural Gas Futures Contracts open at $3.000, three cents above Tuesday’s closing price of $2.972. Emboldened by the latest news regarding Hurricane Irma, prices shot upward early on to reach the intraday high of $3.031 by 9:20AM. Tumbling to the intraday low of $2.980 forty minutes later, the contract stabilized near $3.005 by noon and traded sideways for the balance for the day, as October closed higher on Wednesday at $3.000.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 62 BCF injection to storage for the week ended September 1st. This compares to a 36 BCF injection at this time last year and a five-year average injection amount of 58 BCF.
This morning in Globex, WTI Crude was down 42 cents; Natural Gas was up two cents; Heating Oil was up slightly; and, Gasoline was up one cent. Additionally, cash prices were higher in New York and lower in New England.
Natural Gas Glossary
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