Wednesday, June 21st, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.929, two cents above Tuesday’s closing price of $2.907. Trading evenly through 9:30AM, prices then jumped to the intraday high of $2.944. Holding the $2.940 mark over the following ninety minutes, the contract then began a gradual decline, which persisted into the afternoon. Marking the intraday low of $2.878 ahead of 2:00PM, July closed lower on Wednesday at $2.893.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 58 BCF injection to storage for the week ended June 16th. This compares to a 62 BCF injection at this time last year and a five-year average injection amount of 82 BCF.
This morning in Globex, WTI Crude was up 21 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was up one cent.
New York and New England basis values were unchanged for all seasons. Additionally, cash prices were lower in New York and higher in New England.
Natural Gas Glossary
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