Tuesday, June 28th saw the July NYMEX Natural Gas Futures Contract open at $6.678, four cents below Monday’s closing price of $6.501. Fluctuating along the $6.640 mark for the majority of the session, prices marked an intraday high of $6.378 at 1:50PM and an intraday low of $6.478 twenty minutes later. Supported by short-term bullish fundamentals, July settled higher on Tuesday at $6.551.
The more actively traded August contract closed higher at $6.570.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 79 BCF injection to storage for the week ended June 24. This compares to a 76 BCF injection at this time last year and a five-year average injection amount of 73 BCF.
As of 6:20AM EST this morning in Globex, WTI Crude was up 49 cents; Natural Gas was up 22 cents; Heating Oil was down eight cents; and Gasoline was down five cents.
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