July 14, 2022
Wednesday, July 13
th saw the August NYMEX Natural Gas Futures Contract open at $6.516, 35 cents above Tuesday’s closing price of $6.163. Trailing downward to mark an intraday low of $6.411 by 9:25AM, the contract then mounted a steady ascent that extended into the afternoon. Reaching an intraday high of $6.798 ahead of 1:00PM, persistent cooling demand and production woes continue to provide support. August closed higher on Wednesday at $6.689.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 53 BCF injection to storage for the week ended July 8. This compares to a 49 BCF injection at this time last year and a five-year average injection amount of 55 BCF.
As of 7:30AM EST this morning in Globex, WTI Crude was down $2.80; Natural Gas was up 66 cents; Heating Oil was down nine cents; and Gasoline was down 11 cents.
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