July NYMEX Natural Gas Futures Contract Closed at $6.808 on Tuesday, June 21st

Market Insights
Natural Gas
Basis
NYMEX
June 22, 2022
Tuesday, June 21st saw the July NYMEX Natural Gas Futures Contract open at $6.691, twenty-five cents below Friday’s closing price of $6.944. Slipping to an intraday low of $6.652 at 9:45AM, prices then mounted a staggered ascent that would last until peaking at the intraday high of $6.976 at midday. The weather-induced morning selloff was recovered in part thanks to technical trading. July closed lower on Tuesday at $6.808.

The NYMEX Trading Floor was closed on Monday in observance of Juneteenth.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 56 BCF injection to storage for the week ended June 17. This compares to a 55 BCF injection at this time last year and a five-year average injection amount of 82 BCF.

As of 6:50AM EST this morning in Globex, WTI Crude was down $4.75; Natural Gas was down seven cents; Heating Oil was down five cents; and Gasoline was down seven cents.
 
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