July NYMEX Natural Gas Futures Contract Closed at $3.097 on Friday, June 4th

Market Insights
Natural Gas
June 7, 2021
Friday, June 4th saw the front-month NYMEX Natural Gas Futures Contract open at $3.050, a penny above Thursday’s closing price of $3.041.  Slipping to an intraday low of $3.024 by 10:00AM, prices moved decisively higher at midday as pipeline issues persist in Texas.  Ascending to an intraday high of $3.121 at 12:20PM, July closed higher on Friday at $3.097 thanks in part to continued forecasts for above average temperatures.  Finishing nearly 4% higher on the week.

The EIA Natural Gas Storage Report published on Thursday showed a 98 BCF injection to storage for the week ended May 28th – below the market estimate of 107 BCF.  Total working gas in storage was reported as 2,313 BCF; 14.3% below this time last year and 2.6% below the five-year average.

As of 6:35AM EST this morning in Globex, WTI Crude was down 37 cents; Natural Gas was down one cent; Heating Oil was down one cent; and Gasoline was down one cent.
Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.