Tuesday, July 20th saw the front-month NYMEX Natural Gas Futures Contract open at $3.852, seven cents above Monday’s closing price of $3.779. Continuing its pre-session momentum to reach an intraday high of $3.884, prices then withdrew to tally an intraday low of $3.859 at 9:30AM. Fueled by heat in the western portion of the country and steady LNG exports, the contract rose into the afternoon to close higher on Tuesday at $3.876.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 30 BCF injection to storage for the week ended July 16th . This compares to a 37 BCF injection at this time last year and a five-year average injection amount of 36 BCF.
As of 6:55AM EST this morning in Globex, WTI Crude was up 96 cents; Natural Gas was up six cents; Heating Oil was up two cents; and Gasoline was up one cent.
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