June 12, 2020
Thursday, June 11
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.781, nearly even to Wednesday’s closing price of $1.780. Ascending from an intraday low of $1.776 within minutes of the opening bell, prices rose to trade along $1.815 leading up to the 10:30AM storage report. Tumbling downward in response to the publication’s release, the contract fell to $1.778 before climbing to an intraday high of $1.833 just after midday. The July contract closed higher on Thursday at $1.813.
The EIA Natural Gas Storage Report published on Thursday showed a 93 BCF injection to storage for the week ended June 5
th – in line with the market estimate of 90. Total working gas in storage was reported as 2,807 BCF: 36.3% above this time last year and 17.6% above the five-year average.
As of 7:55AM EST this morning in Globex, WTI Crude was up 21 cents; Natural Gas was down two cents; Heating Oil was up two cents; and Gasoline was down one cent.
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