Thursday, July 13th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.965, two cents below Wednesday’s closing price of $2.985. Balanced trading through the day’s opening hour recorded the intraday low of $2.952 before ascending to the $2.98 level ahead of 10:30AM. Jumping as high as $3.009 as the storage report hit the wire, prices then plotted a staggered climb to reach the intraday high of $3.020 by 11:20AM. Struggling to maintain $3.00 as the afternoon went on, August ultimately withdrew to close lower on Thursday at $2.961.
The EIA Natural Gas Storage Report published on Thursday showed a 57 BCF injection to storage for the week ended July 7th – below the market estimate of 60 BCF. Total working gas in storage was reported as 2,945 BCF; 8.9% below this time last year and 6.2% above the five-year average.
This morning in Globex, WTI Crude was up 55 cents; Natural Gas was unchanged; Heating Oil was up two cents; and, Gasoline was up two cents. Additionally, cash prices were lower in New York and New England.
Natural Gas Glossary
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