Natural Gas Storage Report Expectations for This Week

Wednesday, June 10th saw the front-month NYMEX Natural Gas contract open at $3.222, $0.082 above Tuesday’s closing price of $3.140. Recording an intraday high of $3.249 following the early-morning rally, the contract stabilized near $3.215 through 10:30AM as traders priced-in the impending above average temperatures. Falling to the intraday low of $3.169 at 11:00, prices hovered along the $3.200 mark into the afternoon as July closed higher on Wednesday at $3.185.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 101 BCF injection to storage for the week ended June 5. This compares to a 109 BCF injection this time last year and a five-year average injection amount of 95 BCF.

As of 9:45AM this morning in Globex WTI Crude was down $0.780; Natural Gas was down $0.079; Heating Oil was down $0.026; and Gasoline was up $0.015.

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