Thursday, June 16th saw the July NYMEX Natural Gas Futures Contract open at $7.783, thirty-six cents above Wednesday’s closing price of $7.420. Climbing to the $7.875 level within the day’s opening minutes, prices traded along this mark until the 10:30AM storage publication. Jumping to the intraday high of $8.027 as the report hit the wire, the contract withdrew for the balance of the session as traders continue to assess the impact of last week’s Freeport LNG facility explosion. Marking the intraday low of $7.330 at 1:55PM, July closed higher on Thursday at $7.464.
The EIA Natural Gas Storage Report published on Thursday showed a 92 BCF injection to storage for the week ended June 10 – in line with the market estimate of 91 BCF. Total working gas in storage was reported as 2,095 BCF; 13.6% below this time last year and 13.4% below the five-year average.
As of 7:45AM EST this morning in Globex, WTI Crude was down 49 cents; Natural Gas was up 18 cents; Heating Oil was down one cent; and Gasoline was down eight cents.
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