Thursday, July 1
st saw the front-month NYMEX Natural Gas Futures Contract open at $3.730, eight cents above Wednesday’s closing price of $3.650. Recording the intraday high of $3.748 soon after markets opened, the contract moved decidedly lower to trade near $3.665 ahead of the weekly storage publication. Marking an intraday low of $3.599 as the report hit the wire, the contract reclaimed the $3.66 level by midday and traded sideways into the afternoon. August closed higher on Thursday at $3.661.
Please note the NYMEX trading floor will be closed on Monday July 5, in observance of Independence Day.
The EIA Natural Gas Storage Report published on Thursday showed a 76 BCF injection to storage for the week ended June 25
th – above the market estimate of 67 BCF. Total working gas in storage was reported as 2,558 BCF; 16.6% below this time last year and 5.3% below the five-year average.
As of 6:55AM EST this morning in Globex, WTI Crude was down ten cents; Natural Gas was down two cents; Heating Oil was down one cent; and Gasoline was down slightly.
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