July NYMEX Natural Gas Futures Contract Closed at $1.780 on Wednesday, June 10th

Wednesday, June 10th saw the front-month NYMEX Natural Gas Futures Contract open at $1.764, nearly even to Tuesday’s closing price of $1.767.  Ascending to an intraday high of $1.808 by 9:30AM, analysts remain bearish as LNG exports continue to decline forecasts remain unsupportive.  Dipping below $1.775 ahead of midday, prices rose into the afternoon as July closed higher on Wednesday at $1.780.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 90 BCF injection to storage for the week ended June 5th. This compares to a 102 BCF injection at this time last year and a five-year average injection amount of 94 BCF.

As of 7:45AM EST this morning in Globex, WTI Crude was down $1.67; Natural Gas was down slightly; Heating Oil was down three cents; and Gasoline was down four cents.

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