June NYMEX Natural Gas Futures Contracts Closed at $2.859 on Thursday, May 17th

Thursday, May 17th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.794, two cents below Wednesday’s closing price of $2.815.  Tumbling to the intraday low of $2.780 by 9:10AM, prices soon recovered to trade near $2.795 through 10:30AM.  Gaining upward momentum in the minutes following the reported above-average storage injection, the contract surpassed $2.830 by midday and tallied the intraday high of $2.862 ahead 2:20PM.  June closed higher on Thursday at $2.859.

The EIA Natural Gas Storage Report published on Thursday showed a 106 BCF injection to storage for the week ended May 11th – above the market estimate of 104 BCF.  Total working gas in storage was reported as 1,538 BCF; 34.8% below this time last year and 24.6% below the five-year average.

This morning in Globex, WTI Crude was down 12 cents; Natural Gas was down two cents; Heating Oil was up one cent; and, Gasoline was up one cent.  

Natural Gas Glossary
                                                                                                 
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