Tuesday, June 15th saw the front-month NYMEX Natural Gas contract open at $3.465, $0.001 above Monday’s closing price of $3.466. Seeking direction throughout the morning as the formation of a tropical disturbance in the Gulf of Mexico could disrupt production, prices found the intraday low of $3.415 at 9:55AM. Crossing midday at $3.472, the contract rose to tally an intraday high of $3.542 at 2:00PM. August closed higher on Tuesday at $3.523
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 42 BCF injection to storage for the week ended July 11. This compares to a 10 BCF injection this time last year and a five-year average injection amount of 41 BCF.
As of 7:35AM this morning in Globex, WTI Crude was down $0.590; Natural Gas was up $0.003; Heating Oil was down $0.020; and Gasoline was down $0.015.
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