July 30, 2021
Thursday, July 29
th saw the front-month NYMEX Natural Gas Futures Contract open at $3.970, just above Wednesday’s closing price of $3.967. Marking the intraday low of $3.969 early on, prices hovered near $3.985 heading into the weekly storage release. Surging higher as the weekly publication hit the wire, the contract peaked at an intraday high of $4.097 at 12:30PM. Lingering heat and tight storage continue to provide support as September closed higher on Thursday at $4.059.
The EIA Natural Gas Storage Report published on Thursday showed a 36 BCF injection to storage for the week ended July 23
rd – below the market estimate of 47 BCF. Total working gas in storage was reported as 2,714 BCF; 16.2% below this time last year and 5.8% below the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was down 18 cents; Natural Gas was down seven cents; Heating Oil was down one cent; and Gasoline was down one cent
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