June 24, 2021
Wednesday, June 23
rd saw the front-month NYMEX Natural Gas Futures Contract open at $3.339, eight cents above Tuesday’s closing price of $3.258. Heightened cooling demand and strong LNG exports provided support as the overnight rally extended pass the opening bell to achieve two-year intraday high of $3.383 ahead of 10:00AM. Posting a steady descent for the balance of the session, marking an intraday low of $3.327 at 1:30PM, July closed higher on Wednesday at $3.333.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 65 BCF injection to storage for the week ended June 18
th. This compares to a 120 BCF injection at this time last year and a five-year average injection amount of 83 BCF.
As of 7:20AM EST this morning in Globex, WTI Crude was down 13 cents; Natural Gas was unchanged; Heating Oil was down two cents; and Gasoline was down one cent.
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