July NYMEX Natural Gas Futures Contract Closed at $2.763 on Tuesday, June 27th

Tuesday, June 27th saw the front-month NYMEX Natural Gas Futures Contract open at $2.796, just above Monday’s closing price of $2.791. Trading within a tight band near $2.780 through 11:00AM as cooling demand persists and settlement looms closer. Trending modestly higher into the afternoon to trade sideways near $2.800, the contract rose to tally a near four-month intraday high of $2.809 at 1:45PM. Pulling back to close out the day, July finished lower on Tuesday at $2.763.

The more actively traded August contract posted similar activity throughout the day, ultimately closing lower at $2.789.

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 7:30AM EST this morning in Globex, WTI Crude was up one cent; Natural Gas was up two cents; Heating Oil was unchanged; and Gasoline was up three cents.
                                                                                                       
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