Tuesday, June 22th saw the front-month NYMEX Natural Gas Futures Contract open at $3.268, nearly eight cents above Monday’s closing price of $3.191. Marking an intraday high of $3.272 within minutes of the opening bell, prices then slipped to an intraday low of $3.238 at 9:15AM. Maintaining overnight gains to trade within this range for the balance of the session, continued heat in the west, healthy LNG exports, and the threat of a tropical storm in the Atlantic all played a part in the day’s bullish tone. July closed higher on Tuesday at $3.258.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 78 BCF injection to storage for the week ended June 18th. This compares to a 120 BCF injection at this time last year and a five-year average injection amount of 83 BCF.
As of 7:10AM EST this morning in Globex, WTI Crude was up 53 cents; Natural Gas was up three cents; Heating Oil was up two cents; and Gasoline was up two cents.
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