Tuesday, June 30th saw the front-month NYMEX Natural Gas contract open at $3.282, $0.101 above Monday’s closing price of $3.181. As weather models added cooling demand overnight to the impending heatwave, the contract marked an intraday low of $3.242 at 9:40AM before rallying higher. Extending gains through midday to reach the intraday high of $3.328 at 12:45PM, prices then pulled back as 2:30PM drew near. August closed higher on Tuesday at $3.275.
The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show an 82 BCF injection to storage for the week ended June 26. This compares to a 96 BCF injection this time last year and a five-year average injection amount of 75 BCF.
In Globex, as of 8:10AM this morning, WTI Crude was down $0.560; Natural Gas was down $0.037; Heating Oil was up $0.067; and Gasoline was up $0.025.
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842