July 23, 2021
Thursday, July 22
nd saw the front-month NYMEX Natural Gas Futures Contract open at $3.934, three cents below Wednesday’s closing price of $3.959. Trading along either side of $3.945 through 10:30AM, the contract plunged to an intraday low of $3.892 as the weekly publication hit the wire. Mounting a steady ascent from there, prices rose to cross midday at $3.950 and continued on to a fresh two-and-a-half year intraday high of $4.006 at 2:20PM. August closed higher on Thursday at $4.003.
The EIA Natural Gas Storage Report published on Thursday showed a 49 BCF injection to storage for the week ended July 16
th – above the market estimate of 30 BCF. Total working gas in storage was reported as 2,678 BCF; 16.6% below this time last year and 6.2% below the five-year average.
As of 5:50AM EST this morning in Globex, WTI Crude was up two cents; Natural Gas was unchanged; Heating Oil was up slightly; and Gasoline was down one cent.
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