August NYMEX Natural Gas Futures Contract Closed at $2.187 on Tuesday, July 23rd

Tuesday, July 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.204, five cents below Monday’s closing price of $2.251. Recording the intraday high of $2.228 at 9:35AM, the contract then pulled back to the $2.220 level as market fundamentals remained largely unchanged. Trading sideways along $2.190 into the afternoon, prices fell to tally an intraday low of $2.177 at 2:15PM. August closed lower on Tuesday at $2.187.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 14 BCF injection to storage for the week ended July 19th. This compares to a 16 BCF injection this time last year and a five-year average injection amount of 31 BCF.

As of 6:40AM EST this morning in Globex, WTI Crude was up six cents; Natural Gas was down five cents; Heating Oil was up two cents; and Gasoline was up three cents.

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