June NYMEX Natural Gas Futures Contract Closed at $2.967 on Tuesday, May 4th

Tuesday, May 4th saw the front-month NYMEX Natural Gas Futures Contract open at $2.993, three cents above Monday’s closing price of $2.966.  Recording an intraday high of $2.995 within minutes of the opening bell, prices then retreated to record an intraday low of $2.932 at 10:20AM.  Rising steadily into the afternoon as below average temperatures are expected to cover the Northeast, June closed nearly flat on Tuesday at $2.967.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 58 BCF injection to storage for the week ended April 30th.  This compares to a 109 BCF injection at this time last year and a five-year average injection amount of 81 BCF.

As of 7:15AM EST this morning in Globex, WTI Crude was up 70 cents; Natural Gas was up two cents; Heating Oil was up two cents; and Gasoline was up two cents

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