June 5, 2020
Thursday, June 4
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.819, just below Wednesday’s closing price of $1.821. Rising steadily to $1.835 ahead of 10:30AM, prices jumped to an intraday high of $1.854 as the weekly storage publication hit the wire. Falling to an intraday low of $1.795 nearly an hour later, the contract spent the balance of the session ascending to the $1.820 level. The July contract closed flat on Thursday at $1.822.
The EIA Natural Gas Storage Report published on Thursday showed a 102 BCF injection to storage for the week ended May 29
th – below the market estimate of 106. Total working gas in storage was reported as 2,714 BCF: 39.0% above this time last year and 18.4% above the five-year average.
As of 7:55AM EST this morning in Globex, WTI Crude was up 96 cents; Natural Gas was unchanged; Heating Oil was up four cents; and Gasoline was up three cents.
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