Wednesday, June 15th saw the July NYMEX Natural Gas Futures Contract open at $7.512, thirty-two cents above Tuesday’s closing price of $7.189. Rising steadily to an intraday high of $7.698 by 10:20AM, prices recovered from the previous session’s historic selloff as prices waded into oversold territory during peeking cooling demand season. Crossing midday at $7.541, contract trended lower for the balance of the to mark an intraday low of $7.373 ahead of 2:30PM. July closed higher on Wednesday at $7.420.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 91 BCF injection to storage for the week ended June 10. This compares to a 16 BCF injection at this time last year and a five-year average injection amount of 79 BCF.
As of 6:00AM EST this morning in Globex, WTI Crude was down four cents; Natural Gas was up 21 cents; Heating Oil was down one cent; and Gasoline was up two cents.
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