July NYMEX Natural Gas Futures Contract Closed at $8.523 on Friday, June 3rd

Friday, June 3rd saw the July NYMEX Natural Gas Futures Contract open at $8.591, eleven cents above Thursday’s closing price of $8.485. Trailing downward to tally the intraday low of $8.391 at 9:55AM, prices buoyed ahead of midday to trade along either side of $8.550. Finding continued support from the tight production/supply balance July closed higher on Friday at $8.523.

The EIA Natural Gas Storage Report published on Thursday showed a 90 BCF injection to storage for the week ended May 27 – above the market estimate of 82 BCF. Total working gas in storage was reported as 1,902 BCF; 17.3% below this time last year and 15.1% below the five-year average.

As of 6:40AM EST this morning in Globex, WTI Crude was up 66 cents; Natural Gas was up 42 cents; Heating Oil was up four cents; and Gasoline was down slightly.
 
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