Wednesday, June 17th saw the front-month NYMEX Natural Gas Futures Contract open at $1.619, just above Tuesday’s closing price of $1.614. Seeking direction early on, prices rose to an intraday high of $1.647 by 10:20AM as above-average temperatures are expected for the back end of June. Falling to an intraday low of $1.610 at 1:00PM, the contract ascended into 2:30PM as July closed higher on Wednesday at $1.638.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show an 85 BCF injection to storage for the week ended June 12th. This compares to a 115 BCF injection at this time last year and a five-year average injection amount of 87 BCF.
As of 6:50AM EST this morning in Globex, WTI Crude was up 40 cents; Natural Gas was up slightly; Heating Oil was up one cent; and Gasoline was up one cent.
Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.