June NYMEX Natural Gas Futures Contract Closed at $3.012 on Tuesday, May 18th

Tuesday, May 18th saw the front-month NYMEX Natural Gas Futures Contract open at $3.077, three cents below Monday’s closing price of $3.109.  Recording the intraday high of $3.081 soon after the opening bell, prices arced lower throughout the morning.  Finding support near $3.020 by midday as markets seek direction following the previous session’s gains, June closed lower on Tuesday at $3.012.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 63 BCF injection to storage for the week ended May 14th.  This compares to an 81 BCF injection at this time last year and a five-year average injection amount of 86 BCF.

As of 6:55AM EST this morning in Globex, WTI Crude was down $1.05; Natural Gas was down two cents; Heating Oil was down two cents; and Gasoline was down three cents.
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