August NYMEX Natural Gas Futures Contract Closed at $5.424 on Thursday, June 30th

Market Insights
Natural Gas
July 1, 2022
Thursday, June 30th saw the August NYMEX Natural Gas Futures Contract open at $6.399, ten cents below Wednesday’s closing price of $6.498. Tallying the intraday high of $6.602 by 9:45AM, prices traded within a ten-cent range of $6.500 through the day’s opening ninety minutes. Losing ground as the bearish storage report hit the wire, the contract stabilized near $6.000. Withdrawing further into the afternoon, August marked a three-month intraday low of $5.400 before closing lower on Thursday at $5.424; down nearly 17% on the day.
Markets will be closed on Monday, July 4th in observance of Independence Day.

The EIA Natural Gas Storage Report published on Thursday showed an 82 BCF injection to storage for the week ended June 24 – in line with the market estimate of 75 BCF. Total working gas in storage was reported as 2,251 BCF; 11.6% below this time last year and 12.5% below the five-year average.

As of 7:15AM EST this morning in Globex, WTI Crude was up $2.12; Natural Gas was up 25 cents; Heating Oil was up 14 cents; and Gasoline was up four cents.
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