May 29, 2020
Thursday, May 28
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.877, just below Wednesday’s closing price of $1.881. Marking an intraday high of $1.879 soon after the opening bell, prices fluctuated along $1.870 until 10:30AM. Sinking as low as $1.829 as the weekly publication was released, the contract proceeded to then trade sideways near $1.845 into the late afternoon. Reaching an intraday low of $1.823 ahead of 2:30PM, July closed lower on Thursday at $1.827.
The EIA Natural Gas Storage Report published on Thursday showed a 109 BCF injection to storage for the week ended May 22
nd – above the market estimate of 103. Total working gas in storage was reported as 2,612 BCF: 42.4% above this time last year and 19.3% above the five-year average.
As of 8:05AM EST this morning in Globex, WTI Crude was down 76 cents; Natural Gas was up two cents; Heating Oil was down slightly; and Gasoline was down one cent.
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