August NYMEX Natural Gas Futures Contract Closed at $2.444 on Wednesday, July 10th

Wednesday July 10th saw the front-month NYMEX Natural Gas Futures Contract open at 2.439, roughly a penny above Tuesday’s closing price of $2.425.  The contract performed well early, the price steadily increased until peaking at the intraday high of $2.489 at 11:40AM.  Prices descended into the afternoon reaching the intraday low of $2.424 at 1:40PM. Recovering for the remainder of the session, August closed higher on Wednesday at $2.444.

The EIA Natural Gas Storage Report is due out at 12:00PM today.  The report is expected to show an 80 BCF injection to storage for the week ended July 5th. This compares to a 51 BCF injection at this time last year and a five-year average injection amount of 71 BCF.

As of 10:45AM EST this morning in Globex, WTI Crude was down ten cents; Natural Gas was up three cents; Heating Oil was down one cent; and Gasoline was down two cents. 
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