June 7, 2021
Friday, June 4
th saw the front-month NYMEX Natural Gas Futures Contract open at $3.050, a penny above Thursday’s closing price of $3.041. Slipping to an intraday low of $3.024 by 10:00AM, prices moved decisively higher at midday as pipeline issues persist in Texas. Ascending to an intraday high of $3.121 at 12:20PM, July closed higher on Friday at $3.097 thanks in part to continued forecasts for above average temperatures. Finishing nearly 4% higher on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 98 BCF injection to storage for the week ended May 28
th – below the market estimate of 107 BCF. Total working gas in storage was reported as 2,313 BCF; 14.3% below this time last year and 2.6% below the five-year average.
As of 6:35AM EST this morning in Globex, WTI Crude was down 37 cents; Natural Gas was down one cent; Heating Oil was down one cent; and Gasoline was down one cent.
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