July NYMEX Natural Gas Futures Contract Closed at $1.638 on Thursday, June 18th

Thursday, June 18th saw the front-month NYMEX Natural Gas Futures Contract open at $1.624, a penny below Wednesday’s closing price of $ $1.638.  Falling to an intraday low of $1.611 by 9:40AM, the contract then began a gradual ascent, which was largely unaffected by news of a storage injection that was in line with market expectations.  Peaking at an intraday high of $1.661 at 1:00PM, July closed flat on Thursday at $1.638.

The EIA Natural Gas Storage Report published on Thursday showed an 85 BCF injection to storage for the week ended June 12th – even with the market estimate. Total working gas in storage was reported as 2,892 BCF: 33.3% above this time last year and 16.9% above the five-year average.

As of 8:10AM EST this morning in Globex, WTI Crude was up $1.17; Natural Gas was up two cents; Heating Oil was up two cents; and Gasoline was up two cents.

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