Wednesday, July 18th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.752, a penny above Tuesday’s closing price of $2.740. Stepping lower from the intraday high as markets opened, the contract stabilized near the $2.73 mark near 10:00AM. Fluctuating within a penny of this mark for the majority of the day despite expectations for increased cooling demand this weekend, traders are likely awaiting today’s EIA Storage report. August closed lower on Wednesday at $2.721.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 56 BCF injection to storage for the week ended July 13th. This compares to a 27 BCF injection at this time last year and a five-year average injection amount of 62 BCF.
This morning in Globex, WTI Crude was down 60 cents; Natural Gas was up one cent; Heating Oil was down two cents; and, Gasoline was down two cents.
Natural Gas Glossary
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