Wednesday, June 6
th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.884, slightly below Tuesday’s closing price of $2.890. Ascending to the intraday high of $2.907 by 9:20AM, the contract retreated in the following hour to mark the intraday low of $2.874. Trudging gradually higher from here with support from slightly bullish weather and what’s expected to be a below average injection to inventory, July closed higher on Wednesday at $2.896.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 95 BCF injection to storage for the week ended June 1
st. This compares to a 106 BCF injection at this time last year and a five-year average injection amount of 104 BCF.
This morning in Globex, WTI Crude was up 60 cents; Natural Gas was up seven cents; Heating Oil was up two cents; and, Gasoline was up two cents.
Natural Gas Glossary
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to
natgas@spragueenergy.com or call 1-855-466-2842.