July 5, 2022
Friday, July 1
st saw the August NYMEX Natural Gas Futures Contract open at $5.860, forty-four cents above Thursday’s closing price of $5.424. Prices quickly found the intraday high of $5.912 by 9:10AM, just moments after open. Prices had a consistent downward trend throughout the day, reaching their intraday low of $5.637 at 1:30PM, and again at 2:00PM. Prices rebounded a bit in the last half hour of trading, closing out the day $5.730.
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 9:40AM EST this morning in Globex, WTI Crude was down $4.62; Natural Gas was down 16 cents; Heating Oil was down 13 cents; and Gasoline was down 15 cents.
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