Friday, July 31st saw the front-month NYMEX Natural Gas contract open at $2.762, $0.004 above Thursday’s closing price of 2.758. Recording the intraday high of $2.768 ahead of 9:05AM and an intraday low of $2.712 at 11:55AM. Assessing the previous day’s bullish storage miss and impending cooling demand against stout supply levels, afternoon trading was largely sideways. September closed $2.747.
The EIA Natural Gas Storage Report published last Thursday posted a 28 BCF injection to storage for the week ended July 24 – below the market estimate of 35 BCF. Working gas in storage was reported as 3,084 BCF; 1.0% below this time last year and 6.4% above the five-year average.
In Globex, as of 7:35AM this morning, WTI Crude was down $4.880; Natural Gas was up $0.004; Heating Oil was down $0.083 and Gasoline was down $0.0101
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