Thursday, August 6th saw the front-month NYMEX Natural Gas contract open at $2.668, $0.020 below Wednesday’s closing price of $2.688. Recording the intraday high of $2.676 ahead of 9:30AM, prices fell to trade along $2.645 leading up to the weekly storage report. Slipping to the intraday low of $2.616 following the bearish injection, the contract recovered by midday to trade sideways into the afternoon. September closed lower on Thursday at $2.640.
The EIA Natural Gas Storage Report published on Thursday posted a 33 BCF injection to storage for the week ended July 31 – above the market estimate of 27 BCF. Working gas in storage was reported as 3,117 BCF; 0.4% below this time last year and 6.7% above the five-year average.
In Globex, as of 7:20AM this morning, WTI Crude was down $0.400; Natural Gas was down $0.005; Heating Oil was down $0.010; and Gasoline was up $0.001.
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