July NYMEX Natural Gas Futures Contracts Closed at $2.885 on Wednesday, May 30th

On Wednesday, May 30th – the July NYMEX Natural Gas Futures Contracts began trading as the prompt month.  Opening at $2.895, a penny below Tuesday’s closing price of $2.903, the contract lost its footing early on to mark the intraday low of $2.867 by 9:10AM.  Ascending from there to reach the intraday high of $2.897 an hour later, prices fluctuated along either side of $2.885 for the balance of the day as July closed lower on Wednesday at $2.885.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 103 BCF injection to storage for the week ended May 25th.  This compares to an 81 BCF injection at this time last year and a five-year average injection amount of 97 BCF.

This morning in Globex, WTI Crude was down 72 cents; Natural Gas was up five cents; Heating Oil was down one cent; and, Gasoline was up slightly.  
Natural Gas Glossary
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