Tuesday, June 25th saw the front-month NYMEX Natural Gas Futures Contract open at $2.772, four cents below Monday’s closing price of $2.811. Arcing higher throughout the morning to tally the intraday high of $2.817 by 12:15PM, prices then trended lower due to healthy production and settlement uncertainty. Falling to the intraday low of $2.745 ahead of 2:30PM, July closed lower on Tuesday at $2.756.
The August contract opened six cents lower at $2.884. Posting a similar path as its predecessor, August closed lower on Tuesday at $2.863.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 55 BCF injection to storage for the week ended June 21st. This compares to a 76 BCF injection this time last year and a five-year average injection amount of 85 BCF.
As of 7:00AM EST this morning in Globex, WTI Crude was up 61 cents; Natural Gas was down six cents; Heating Oil was up three 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.
