July NYMEX Natural Gas Futures Contract Closed at $3.129 on Wednesday, June 9th

Market Insights
Natural Gas
Basis
NYMEX
June 10, 2021
Wednesday, June 9th saw the front-month NYMEX Natural Gas Futures Contract open at $3.150, two cents above Tuesday’s closing price of $3.128.  Marking an intraday high of $3.168 at 9:30AM, prices trended lower until finding support near $3.135 by midday.  Awaiting today’s storage publication and any updates to the return of above average temperatures to close out the month, the contract marked an intraday low of $3.123 multiple times through the afternoon hours.  July closed nearly flat on Wednesday at $3.129.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 100 BCF injection to storage for the week ended June 4th.  This compares to a 93 BCF injection at this time last year and a five-year average injection amount of 92 BCF.

As of 7:00AM EST this morning in Globex, WTI Crude was up 12 cents; Natural Gas was up two cents; Heating Oil was up slightly; and Gasoline was up one cent.

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