July 15, 2022
Thursday, July 14
th saw the August NYMEX Natural Gas Futures Contract open at $6.847, sixteen cents above Wednesday’s closing price of $6.689. Seeking direction as the contract fluctuated within a large berth of the $6.770 level leading up to the weekly storage publication, prices sank to the intraday low of $6.537 at 10:45AM. Recovering to tally the intraday high of $6.860 ahead of midday. August closed lower on Thursday at $6.600.
The EIA Natural Gas Storage Report published on Thursday showed a 58 BCF injection to storage for the week ended July 8 – in line with the market estimate of 53 BCF. Total working gas in storage was reported as 2,369 BCF; 9.6% below this time last year and 11.9% below the five-year average.
As of 7:20AM EST this morning in Globex, WTI Crude was up $1.50; Natural Gas was down 11 cents; Heating Oil was up three cents; and Gasoline was up six cents.
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