Wednesday, July 31st saw the front-month NYMEX Natural Gas Futures Contract open at $2.187, five cents above Tuesday’s closing price of $2.137. Ascending from the intraday low of $2.177 within minutes of opening, prices rose steadily until reaching an intraday high of $2.268 ahead of midday as traders took advantage of recently diminished prices. Stepping cautiously downward into the afternoon, September closed higher on Wednesday at $2.233.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 55 BCF injection to storage for the week ended July 26th. This compares to a 33 BCF injection at this time last year and a five-year average injection amount of 37 BCF.
As of 8:50AM EST this morning in Globex, WTI Crude was down $1.07; Natural Gas was up nine cents; Heating Oil was down three cents; and Gasoline was down three cents.
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