Yesterdays Crude Pit Session:

High: 86.60

Low: 85.23

Settlement: 85.97

Looking back at yesterday’s trading session we saw very low volume in the pit and in electronic trading.   Many locals are looking at 85.00 to be the bottom of our range.  That said, we can expect them to start doing some light buying at this level.   One of the key things we will need to watch is the hurricane currently heading towards the east coast.  This may affect some smaller refineries which in turn will impact gasoline and crude prices. 

Resistance: 86.25 , 86.75, 87.48

Support: 85.00

Yesterdays Natural Gas Session:

High: 3.815

Low:  3.712

Settlement: 3.776

We have now rolled over to the Dec contract.  Trading was also relatively light as we were sharing volume with the Nov contract.  However, we witnessed a very large trade in the NG Dec options pit today, close to a 5000 lot of a DEC 3.90 put was bought. Also option expiration is today so we will see some price action in the dealers and locals taking off expiry risk.