Thursday, June 11th saw the front-month NYMEX Natural Gas Futures Contract open at $1.781, nearly even to Wednesday’s closing price of $1.780. Ascending from an intraday low of $1.776 within minutes of the opening bell, prices rose to trade along $1.815 leading up to the 10:30AM storage report. Tumbling downward in response to the publication’s release, the contract fell to $1.778 before climbing to an intraday high of $1.833 just after midday. The July contract closed higher on Thursday at $1.813.
The EIA Natural Gas Storage Report published on Thursday showed a 93 BCF injection to storage for the week ended June 5th – in line with the market estimate of 90. Total working gas in storage was reported as 2,807 BCF: 36.3% above this time last year and 17.6% above the five-year average.
As of 7:55AM EST this morning in Globex, WTI Crude was up 21 cents; Natural Gas was down two cents; Heating Oil was up two cents; and Gasoline was down 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.