Friday, June 16
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.571, four cents above Thursday’s closing price of $2.533. Spiking to $2.635 within minutes of the open, prices pulled back to record the intraday low of $2.522 at 9:40AM. Continuing this week’s rally with weather- and storage-driven support, the contract rose to cross midday at $2.610 and tallied a one-month intraday high of $2.653 at 1:00PM. July closed higher on Friday at $2.632; up 16.8% on the week.
The NYMEX is closed today, Monday June 19, in observance of the Juneteenth holiday.
The EIA Natural Gas Storage Report published on Thursday showed an 84 BCF injection to storage for the week ended June 9 – below the market estimate of 90 BCF. Total working gas in storage was reported as 2,634 BCF; 26.5% above this time last year and 15.5% above the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was down 27 cents; Natural Gas was down two cents; Heating Oil was down three cents; and Gasoline was down two cents.
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