Thursday, June 13th saw the front-month NYMEX Natural Gas Futures Contract open at $2.369, nearly two cents below Wednesday’s closing price of $2.386. Fluctuating along either side of $2.360 through 10:30AM, prices momentarily spiked to an intraday high of $2.379 as the weekly storage injection came in on the lower end of expectations. Posting a choppy descent in the following hours, prices were trading near $2.335 by midday and slipped to an intraday low of $2.322 ahead of 2:30PM. July closed lower on Thursday at $2.325.
The EIA Natural Gas Storage Report published on Thursday showed a 102 BCF injection to storage for the week ended June 7th – even with the market estimate of 101 BCF. Total working gas in storage was reported as 2,088 BCF; 10.0% above this time last year and 9.9% below the five-year average.
As of 8:45AM EST this morning in Globex, WTI Crude was unchanged; Natural Gas was up two cents; Heating Oil was up one cent; and Gasoline was up one cent.
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