August NYMEX Natural Gas Futures Contract Closed at $2.304 on Wednesday, July 17th

Wednesday July 17th saw the front-month NYMEX Natural Gas Futures Contract open at 2.338, roughly three cents above Tuesday’s closing price of $2.306. Prices fluctuated through the early afternoon reaching an intra-day high of $2.346 at 10:30AM and intra-day low of $2.290 at 1:00PM. The remainder of the day traded horizontally closing slightly above the intra-day low. August settled lower on Wednesday at $2.304.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 66 BCF injection to storage for the week ended July 12th. This compares to a 46 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 1.27; Natural Gas was up by almost one cent; Heating Oil was down two cents; and Gasoline was down three cents. 

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