May 13, 2021
Wednesday, May 12
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.961, slightly above Tuesday’s closing price of $2.955. Trading along the $2.955 level until tallying an intraday low of $2.947 at 11:00AM, the contract then began a gradual ascent. Stepping higher into the afternoon, recording an intraday high of $2.977 at 12:50PM, traders have turned their attention to today’s storage report, as weather forecast remain stagnant. June closed higher on Wednesday at $2.969.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 73 BCF injection to storage for the week ended May 7
th. This compares to a 103 BCF injection at this time last year and a five-year average injection amount of 82 BCF.
As of 7:25AM EST this morning in Globex, WTI Crude was down $1.73; Natural Gas was down two cents; Heating Oil was down five cents; and Gasoline was down five cents.
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