Wednesday, June 14th saw the front-month NYMEX Natural Gas Futures Contract open at $2.384, four cents above Tuesday’s closing price of $2.340. Propped up overnight by a bullish shift in expected cooling demand, the contract traded within a tight band near $2.340 throughout the session. Marking the intraday low of $2.315 at 10:30AM and the intraday high of $2.362 at 1:00PM, July closed marginally higher on Wednesday at $2.342.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 90 BCF injection to storage for the week ended June 9. This compares to a 92 BCF injection at this time last year and a five-year average injection amount of 84 BCF.
As of 6:15AM EST this morning in Globex, WTI Crude was up 68 cents; Natural Gas was up one cent; Heating Oil was up one cent; and Gasoline was up two cents.
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
