Friday, July 16th saw the front-month NYMEX Natural Gas Futures Contract open at $3.642, three cents above Thursday’s closing price of $3.614. Marking the intraday low as markets opened, the contract chopped around the $3.660 level for the majority of the day as cooler temperatures are expected to cover key demand areas in the short-term. Tallying the intraday high of $3.679 at 2:10PM, August closed higher on Friday at $3.674.
The EIA Natural Gas Storage Report published on Thursday showed a 55 BCF injection to storage for the week ended July 9th – above the market estimate of 50 BCF. Total working gas in storage was reported as 2,631 BCF; 17.1% below this time last year and 6.7% below the five-year average.
As of 6:50AM EST this morning in Globex, WTI Crude was down $1.98; Natural Gas was up five cents; Heating Oil was down five cents; and Gasoline was down five cents.
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