August NYMEX Natural Gas Futures Contract Closed at $2.668 on Wednesday, June 28th

Wednesday, June 28th saw the front-month NYMEX Natural Gas Futures Contract open at $2.775, a penny above Tuesday’s closing price of $2.763. With limited trading due to the contract’s impending settlement, prices trended continuously lower throughout the day. Marking the intraday high of $2.791 within minutes of the open and the intraday low of $2.593 at 2:00PM, July settled lower on Wednesday at $2.603.

Set to assume the prompt month position, the August contract opened at $2.829, nearly seven cents above
Tuesday’s closing price of $2.763. Trending lower throughout the day as key demand areas of the country experienced more comfortable temperatures, August closed lower on Wednesday at $2.668.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 81 BCF injection to storage for the week ended June 23. This compares to an 82 BCF injection at this time last year and a five-year average injection amount of 80 BCF.

As of 7:45AM EST this morning in Globex, WTI Crude was up 18 cents; Natural Gas was up slightly; Heating Oil was up two cents; and Gasoline was up slightly.
                                                                                                 
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