Natural Gas Prices Fluctuate Amid Demand Changes

Wednesday, June 11^th saw the front-month NYMEX Natural Gas contract open at $3.578, $0.045 above Tuesday’s closing price of $3.533. Ascending to an intraday high of $3.623, traders continue to struggle in the balance between a near-term demand lull and imminent summer heat. Bears then took the wheel as prices fell to record the intraday low of $3.453 at 12:05PM. Recovering into the afternoon, July closed lower on Wednesday at $3.507.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 108 BCF injection to storage for the week ended June 6. This compares to a 74 BCF injection this time last year and a five-year average injection amount of 87 BCF.

As of 6:15AM this morning in Globex, WTI Crude was down $0.990; Natural Gas was up $0.090; Heating Oil was down $0.019; and Gasoline was up $0.091.

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