Natural Gas Contract Performance on June Eighteenth

Thursday, June 18th saw the front-month NYMEX Natural Gas contract open at $3.140, $0.005 below Wednesday’s closing price of $3.145. Recording the intraday low of $3.126 at 9:30AM, prices traded near $3.155 leading up to the weekly storage publication. Trending upward following the historically bearish injection, prices rose to cross midday at $3.229. Marking an intraday high of $3.239 at 2:25PM, July closed higher on Thursday at $3.233.

Markets were closed on Friday in observation of the Juneteenth holiday.

The EIA Natural Gas Storage Report published last Thursday posted a 73 BCF injection to storage for the week ended June 12 – in line with the market estimate of 75 BCF. Working gas in storage was reported as 2,759 BCF; 1.0% below this time last year and 5.8% above the five-year average.

As of 7:05AM this morning in Globex WTI Crude was up $0.400; Natural Gas was up $0.074; Heating Oil was up $0.019; and Gasoline was down $0.004.

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