June 22, 2018

Thursday, June 21st saw the front-month NYMEX Natural Gas Futures Contracts open at $2.990, nearly three cents above Wednesday's closing price of $2.964. Continuing the previous session's momentum early on to reach the intraday high of $3.012 at 10:10AM, prices then held tight to await the weekly storage report. Shedding overnight gains as the bearish storage report hit the wire at 10:30AM, the contract then bottomed out at the intraday low of $2.947 nearly an hour later. Posting a weather supported ascent to finish the day, July closed higher on Thursday at $2.975.

The EIA Natural Gas Storage Report published on Thursday showed a 91 BCF injection to storage for the week ended June 15th - above the market estimate of 84 BCF. Total working gas in storage was reported as 2,004 BCF; 27.4% below this time last year and 19.9% below the five-year average.

This morning in Globex, WTI Crude was up $1.56; Natural Gas was down two cents; Heating Oil was up four cents; and, Gasoline was up three cents.

Natural Gas Glossary
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Sprague Resources LP published this content on 22 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 22 June 2018 13:22:06 UTC