June 4, 2020
Wednesday, June 3
rd saw the front-month NYMEX Natural Gas Futures Contract open at $1.830, five cents above Tuesday’s closing price of $1.777. Ascending to an intraday high of $1.861 by 9:20AM as the result of a short-covering rally, the contract stepped lower to cross midday at $1.836. Descending to an intraday low of $1.789 at 2:10PM, July closed lower on Wednesday at $1.821.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 106 BCF injection to storage for the week ended May 29
th. This compares to a 119 BCF injection at this time last year and a five-year average injection amount of 103 BCF.
As of 7:45AM EST this morning in Globex, WTI Crude was down 52 cents; Natural Gas was up one cent; Heating Oil was down slightly; and Gasoline was up one cent.
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