Monday, June 26
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.759, three cents above Friday’s closing price of $2.729. Continuing last week’s cooling-demand induced rally, prices moved to the intraday high of $2.816 by 9:35AM. Pulling back trade near $2.750 heading into midday; marking the intraday low of $2.733 at 11:45AM, the contract posted a cautious ascent into the afternoon. July closed higher on Monday at $2.791.
Set to assume the front-month position this Thursday, the more actively traded August contract posted similar activity throughout the day to close higher at $2.892.
The EIA Natural Gas Storage Report published on Thursday showed a 95 BCF injection to storage for the week ended June 16 – above the market estimate of 86 BCF. Total working gas in storage was reported as 2,729 BCF; 26.5% above this time last year and 15.3% above the five-year average.
As of 6:40AM EST this morning in Globex, WTI Crude was down 75 cents; Natural Gas was down four cents; Heating Oil was up two cents; and Gasoline was down one cent.
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