June NYMEX Natural Gas Futures Contract Closed at $8.304 on Tuesday, May 17th

Market Insights
Natural Gas
Basis
NYMEX
May 18, 2022
Tuesday, May 17th saw the June NYMEX Natural Gas Futures Contract open at $8.224, twenty-seven cents above Monday’s closing price of $7.956. Trading within a tight band, relative at least to past few sessions, near the $8.260 level for the majority of the day as the main driver of the recent rally haven’t changed. Marking an intraday high of $8.372 at 9:45AM and the intraday low of $8.135 at midday, June closed higher on Tuesday at $8.304.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 89 BCF injection to storage for the week ended May 13. This compares to a 71 BCF injection at this time last year and a five-year average injection amount of 87 BCF.

As of 6:50AM EST this morning in Globex, WTI Crude was up $1.34; Natural Gas was up two cents; Heating Oil was up three cents; and Gasoline was down slightly.
 
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.