Thursday, June 10th saw the front-month NYMEX Natural Gas Futures Contract open at $3.161, three cents above Wednesday’s closing price of $3.129. Trading along either side of $3.175 through 10:00AM, prices rose to the $3.190 level ahead of the weekly storage publication. Ascending to an intraday high of $3.200 as the report hit the wire, the contract trended lower into the afternoon. Marking an intraday low of $3.153 ahead of closing, July finished higher on Thursday at $3.149.
The EIA Natural Gas Storage Report published on Thursday showed a 98 BCF injection to storage for the week ended June 4th – in line with the market estimate of 100 BCF. Total working gas in storage was reported as 2,411 BCF; 13.7% below this time last year and 2.2% below the five-year average.
As of 8:15AM EST this morning in Globex, WTI Crude was up three cents; Natural Gas was up 12 cents; Heating Oil was down three cents; and Gasoline was down four cents.
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