August NYMEX Natural Gas Futures Contract Closed at $1.681 on Wednesday, July 22nd

Wednesday, July 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $1.653, two cents below Tuesday’s closing price of $1.675.  Slipping to an intraday low of $1.636 at 9:30AM, prices then trended higher as traders squared their positions ahead of Thursday’s storage report.  Tallying an intraday high of $1.697 at 1:00PM, the August contract closed higher on Wednesday at $1.681.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 45 BCF injection to storage for the week ended July 17th. This compares to a 36 BCF injection at this time last year and a five-year average injection amount of 37 BCF.

As of 7:15AM EST this morning in Globex, WTI Crude was down four cents; Natural Gas was up one cent; Heating Oil was up slightly; and Gasoline was up slightly.

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