Wednesday, June 6th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.884, slightly below Tuesday’s closing price of $2.890. Ascending to the intraday high of $2.907 by 9:20AM, the contract retreated in the following hour to mark the intraday low of $2.874. Trudging gradually higher from here with support from slightly bullish weather and what’s expected to be a below average injection to inventory, July closed higher on Wednesday at $2.896.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 95 BCF injection to storage for the week ended June 1st. This compares to a 106 BCF injection at this time last year and a five-year average injection amount of 104 BCF.
This morning in Globex, WTI Crude was up 60 cents; Natural Gas was up seven cents; Heating Oil was up two cents; and, Gasoline was up two cents.
Natural Gas Glossary
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