July NYMEX Natural Gas Futures Contract Closed at $6.858 on Wednesday, June 22nd

Wednesday, June 22^nd saw the July NYMEX Natural Gas Futures Contract open at $6.622, nearly nineteen cents below Tuesday’s closing price of $6.808. Slipping to an intraday low of $6.588 within minutes of the open, the contract moved decidedly higher upon renewed expectations for increased cooling demand. Crossing midday near $6.820, prices rose to an intraday high of $6.930 by 1:20PM. July closed higher on Wednesday at
$6.858.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 60 BCF injection to storage for the week ended June 17. This compares to a 55 BCF injection at this time last year and a five-year average injection amount of 82 BCF.

As of 6:50AM EST this morning in Globex, WTI Crude was down 70 cents; Natural Gas was down eight cents; Heating Oil was down two cents; and Gasoline was down two cents.

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