Thursday, June 14th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.957, slightly below Wednesday’s closing price of $2.963. Trending upward as trading opened, prices rose gradually to $2.965 through 10:00AM and momentarily spiked to the intraday high of $2.975 ahead of 10:30AM. Plunging to the intraday low of $2.930 as the bearish inventory report was released minutes later, markets shook off the lower-than-expected injection and reclaimed the $2.96 mark by 11:00AM. July closed slightly higher on Thursday at $2.965.
The EIA Natural Gas Storage Report published on Thursday showed a 96 BCF injection to storage for the week ended June 8th – above the market estimate of 91 BCF. Total working gas in storage was reported as 1,913 BCF; 29.1% below this time last year and 21.0% below the five-year average.
This morning in Globex, WTI Crude was down 22 cents; Natural Gas was up three cents; Heating Oil was down two cents; and, Gasoline was down two cents.
Natural Gas Glossary
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