May 9, 2022
Friday, May 6
th saw the June NYMEX Natural Gas Futures Contract open at $8.596, nineteen cents below Thursday’s closing price of $8.783. Tallying the intraday high of $8.639 near 9:15AM, prices trended steadily lower through the morning. Crossing midday near $8.376, the contract slipped to an intraday low of $7.983 at 1:45PM. June closed lower on Friday at $8.043; up 11% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 77 BCF injection to storage for the week ended April 27 – above the market estimate of a 35 BCF injection. Total working gas in storage was reported as 1,567 BCF; 19.6% below this time last year and 16.3% below the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was down $2.55; Natural Gas was down 16 cents; Heating Oil was down six cents; and Gasoline was down three cents.
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