Tuesday, June 18th saw the front-month NYMEX Natural Gas Futures Contract open at $2.832, four cents above Monday’s closing price of $2.788. Falling to the intraday low of $2.795 ahead of 9:30AM, wide-spread above-average temperatures covering much of the country then drove prices upward. Crossing midday at $2.870, the contract rose to tally an intraday high of $2.916 at 2:25PM. July closed higher on Tuesday at $2.909.
The market will be closed on Wednesday, June 19, 2024 in observance of the Juneteenth holiday.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 75 BCF injection to storage for the week ended June 14th. This compares to a 95 BCF injection this time last year and a five-year average injection amount of 83 BCF.
As of 8:10AM EST this morning in Globex, WTI Crude was up 11 cents; Natural Gas was down two cents; Heating Oil was up two cents; and Gasoline was up two cents.
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
