June NYMEX Natural Gas Futures Contract Closed at $1.681 on Thursday, May 14th

Thursday, May 14th saw the front-month NYMEX Natural Gas Futures Contract open at $1.631, nearly two cents above Wednesday’s closing price of $1.616.  Slipping to an intraday low of $1.617 within minutes of 9:00AM, the contract soon rallied to reach $1.660 at 10:20AM, and continued higher to $1.695 as the weekly storage report was published.  Extending to an intraday high of $1.715 at 11:30AM, the June contract was largely able to stabilize and trade sideways into closing, finishing higher on the day at $1.681.

The EIA Natural Gas Storage Report published on Thursday showed a 103 BCF injection to storage for the week ended May 8th – in line with the market estimate of 103. Total working gas in storage was reported as 2,422 BCF: 49.2% above this time last year and 20.6% above the five-year average.

As of 7:00AM EST this morning in Globex, WTI Crude was up 24 cents; Natural Gas was up three cents; Heating Oil was up two cents; and Gasoline was up two cents.

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