August 7, 2020
Thursday, August 6
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.243, five cents above Wednesday’s closing price of $2.191. Achieving an intraday high of $2.284 by 9:20AM, the contract withdrew over the following hour to reach $2.240. Falling to $2.210 as the storage report hit the wire, prices were trading near $2.220 by midday and tallied an intraday low of $2.158 ahead of closing. The September contract closed lower on Thursday at $2.165.
The EIA Natural Gas Storage Report published on Thursday showed a 33 BCF injection to storage for the week ended July 31
st – in line with the market estimate of 31. Total working gas in storage was reported as 3,274 BCF: 22.5% above this time last year and 15.1% above the five-year average.
As of 7:05AM EST this morning in Globex, WTI Crude was down 44 cents; Natural Gas was up five cents; Heating Oil was down one cent; and Gasoline was down one cent.
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