August NYMEX Natural Gas Futures Contracts Closed at $2.776 on Thursday, July 19th

Thursday, July 19th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.713, a penny below Wednesday’s closing price of $2.721.  Tumbling to a near two-month intraday low of $2.704 by 9:40AM, the contract rose to the $2.72 level as the weekly storage publication drew near.  Surging higher to reach above $2.765 as the bullish report hit the wire, traders sustained this momentum through the balance of the day.  Extending to the intraday high of $2.776 at 2:20PM, August closed lower on Thursday at $2.769.

The EIA Natural Gas Storage Report published on Thursday showed a 46 BCF injection to storage for the week ended July 13th – below the market estimate of 56 BCF.  Total working gas in storage was reported as 2,249 BCF; 24.2% below this time last year and 19.3% below the five-year average.

This morning in Globex, WTI Crude was up 25 cents; Natural Gas was unchanged; Heating Oil was up one cent; and, Gasoline was up two cents. 

Natural Gas Glossary
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