Monday, July 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.233, more than ten cents above Friday’s closing price of $2.128. Marking the intraday low of $2.197 by 9:30AM, prices traded gradually higher throughout the day as increases in LNG export volumes provided support. Tallying an intraday high of $2.270 at 1:30PM, August closed higher on Monday at $2.251.
The EIA Natural Gas Storage Report published last Thursday showed a 10 BCF injection to storage for the week ended July 12 – below the market estimate 20 BCF. Total working gas in storage was reported as 3,209 BCF; 8.4% above this time last year and 16.9% above the five-year average.
As of 7:45AM EST this morning in Globex, WTI Crude was down 42 cents; Natural Gas was down four cents; Heating Oil was flat; and Gasoline was down one cent.
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