July 5, 2023
Friday, June 30
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.668, slightly below Thursday’s closing price of $2.701. Slipping to the intraday low of $2.659 ahead of 9:30AM, the contract then mounted a steady ascent as key demands areas of the country are finally expecting summer-like cooling demand. Cross midday at $2.786 and tallying the intraday high of $2.828 at 1:05PM, August closed higher on Friday at $2.798.
The EIA Natural Gas Storage Report is due out on
Friday at 10:30AM. The report is expected to show a 66 BCF injection to storage for the week ended June 30. This compares to a 60 BCF injection at this time last year and a five-year average injection amount of 64 BCF.
As of 6:35AM EST this morning in Globex, WTI Crude was up $1.34; Natural Gas was up seven cents; Heating Oil was up eight cents; and Gasoline was up six cents.
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