May 21, 2020
Wednesday, May 20
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.877, nearly five cents above Tuesday’s closing price of $1.830. Extending to an intraday high of $1.889 within minutes of the opening bell, the contract seesawed along $1.875 through 10:00AM. Cascading lower for the balance of the morning until bottoming out at an intraday low of $1.743, the June contract closed lower on Wednesday at $1.771.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 99 BCF injection to storage for the week ended May 15
th. This compares to a 100 BCF injection at this time last year and a five-year average injection amount of 87 BCF.
As of 7:30AM EST this morning in Globex, WTI Crude was up 60 cents; Natural Gas was down three cents; Heating Oil was up two cents; and Gasoline was up two cents.
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