August NYMEX Natural Gas Futures Contract Closed at $5.510 on Wednesday, July 6th

Market Insights
Natural Gas
July 7, 2022
Wednesday, July 6th saw the August NYMEX Natural Gas Futures Contract open at an intraday high of $5.689, seventeen cents above Tuesday’s closing price of $5.523. After opening at the high, prices fell steadily for about an hour, before reaching an intraday low of $5.380 at 10:10AM. After a brief rebound, the price held very steadily throughout the afternoon, closing out the day at $5.510

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 75 BCF injection to storage for the week ended July 1. This compares to a 24 BCF injection at this time last year and a five-year average injection amount of 61 BCF.

As of 9:40AM EST this morning in Globex, WTI Crude was up $4.40; Natural Gas was up 28 cents; Heating Oil was up 13 cents; and Gasoline was up 12 cents.
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