Wednesday, May 16th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.818, two cents below Tuesday’s closing price of $2.836. Falling to the intraday low of $2.809 soon after markets opened, prices rose over the following thirty minutes to record the intraday high of $2.829. Trading within a tight band for the balance of the day as markets weigh building storage against expectations for increased cooling demand, June closed lower on Wednesday at $2.815.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 104 BCF injection to storage for the week ended May 11th. This compares to a 68 BCF injection at this time last year and a five-year average injection amount of 87 BCF.
This morning in Globex, WTI Crude was up 32 cents; Natural Gas was down three cents; Heating Oil was up one cent; and, Gasoline was up slightly.
Natural Gas Glossary
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