May 23, 2022
Friday, May 20th saw the June NYMEX Natural Gas Futures Contract open at $7.982, nearly thirty-three cents below Thursday’s closing price of $8.308. Slipping to the intraday low of $7.921 by 9:15AM, the weather-dampened contract fought to recover throughout the day. Crossing midday at $8.095, prices rose to an intraday high of $8.189 at 2:00PM. June closed lower on Friday at $8.083, up roughly 5% on the week.
The EIA Natural Gas Storage Report published on Thursday showed an 89 BCF injection to storage for the week ended May 13th – even to the market estimate. Total working gas in storage was reported as 1,732 BCF; 17.1% below this time last year and 15.2% below the five-year average.
As of 6:20AM EST this morning in Globex, WTI Crude was up $1.25; Natural Gas was down seven cents; Heating Oil was up three cents; and Gasoline was up one cent.
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