August NYMEX Natural Gas Futures Contract Closed at $2.244 on Thursday, July 25th

Thursday, July 25th saw the front-month NYMEX Natural Gas Futures Contract open at $2.240, two cents above Wednesday’s closing price of $2.220.  Rising to an intraday high of $2.261 by 9:50AM, prices stabilized near this mark until the weekly storage report was published forty minutes later.  Despite meeting market expectations, the contract fell to seesaw along the $2.235 level.  Touching down to the intraday low of $2.224 by 1:10PM, August closed lower higher on Thursday at $2.244.

The EIA Natural Gas Storage Report published on Thursday showed a 36 BCF injection to storage for the week ended July 19th – just below the market estimate of 38 BCF.  Total working gas in storage was reported as 2,659 BCF; 13.2% above this time last year and 5.6% below the five-year average.

As of 8:40AM EST this morning in Globex, WTI Crude was up 42 cents; Natural Gas was down four cents; Heating Oil was up slightly; and Gasoline was up slightly. 
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