Friday, June 12th saw the front-month NYMEX Natural Gas contract open at $3.094, $0.007 above Thursday’s closing price of $3.087. Recording the intraday low of $3.072 at 9:25AM, the contract the trended cautiously higher as a forecasted cooldown and steady production battled recovering LNG exports. Stabilizing along $3.120 by 11:00AM, prices jumped to an intraday high of $3.137 at 12:30PM. July closed higher on Friday at $3.120; 3.4% lower from last Friday.
The EIA Natural Gas Storage Report published last Thursday posted a 108 BCF injection to storage for the week ended June 5 – above the market estimate of 101BCF. Working gas in storage was reported as 2,686 BCF; 0.2% below this time last year and 6.0% above the five-year average.
As of 7:35AM this morning in Globex WTI Crude was down $4.570; Natural Gas was down $0.066; Heating Oil was down $0.103; and Gasoline was down $0.1.05.
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