Wednesday, June 10th saw the front-month NYMEX Natural Gas Futures Contract open at $1.764, nearly even to Tuesday’s closing price of $1.767. Ascending to an intraday high of $1.808 by 9:30AM, analysts remain bearish as LNG exports continue to decline forecasts remain unsupportive. Dipping below $1.775 ahead of midday, prices rose into the afternoon as July closed higher on Wednesday at $1.780.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 90 BCF injection to storage for the week ended June 5th. This compares to a 102 BCF injection at this time last year and a five-year average injection amount of 94 BCF.
As of 7:45AM EST this morning in Globex, WTI Crude was down $1.67; Natural Gas was down slightly; Heating Oil was down three cents; and Gasoline was down four cents.
Natural Gas Glossary
Natural Gas Supplier
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.
