Thursday, June 30
th saw the August NYMEX Natural Gas Futures Contract open at $6.399, ten cents below Wednesday’s closing price of $6.498. Tallying the intraday high of $6.602 by 9:45AM, prices traded within a ten-cent range of $6.500 through the day’s opening ninety minutes. Losing ground as the bearish storage report hit the wire, the contract stabilized near $6.000. Withdrawing further into the afternoon, August marked a three-month intraday low of $5.400 before closing lower on Thursday at $5.424; down nearly 17% on the day.
Markets will be closed on Monday, July 4
th in observance of Independence Day.
The EIA Natural Gas Storage Report published on Thursday showed an 82 BCF injection to storage for the week ended June 24 – in line with the market estimate of 75 BCF. Total working gas in storage was reported as 2,251 BCF; 11.6% below this time last year and 12.5% below the five-year average.
As of 7:15AM EST this morning in Globex, WTI Crude was up $2.12; Natural Gas was up 25 cents; Heating Oil was up 14 cents; and Gasoline was up four cents.
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