August 5, 2021
Wednesday, August 4
th saw the front-month NYMEX Natural Gas Futures Contract open at $4.114, nine cents above Tuesday’s closing price of $4.027. Marking an intraday low of $4.096 out of the gate, the contract continued its upward trajectory as heat remains in the forecast and storage concerns persist. Marking the intraday high of $4.205 multiple times heading into the afternoon, September closed higher on Wednesday at $4.158.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 27 BCF injection to storage for the week ended July 30
th. This compares to a 33 BCF injection at this time last year and a five-year average injection amount of 30 BCF.
As of 7:15AM EST this morning in Globex, WTI Crude was up four cents; Natural Gas was down two cents; Heating Oil was down one cent; and Gasoline was down one cent.
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