Natural Gas Prices and Market Trends This Week

Tuesday, June 10^th saw the front-month NYMEX Natural Gas contract open at $3.588, $0.047 below Monday’s closing price of $3.635. Peaking at an intraday high of $3.625 by 9:20AM, markets were once again weighed down by the delayed arrival of summer cooling demand and ongoing LNG maintenance. Trading sideways along $3.550 through midday, the contract marked an intraday low of $3.515 at 1:55PM. July closed lower on Tuesday at $3.533.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 110 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 6:50AM this morning in Globex, WTI Crude was up $0.930; Natural Gas was up $0.036; Heating Oil was up $0.016; and Gasoline was up $0.018.

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