Natural gas prices continued to fall today for July 2022 to June 2023 NYMEX contracts. The main catalyst was the release of the U.S. Energy Information Administration (EIA) storage report. This week’s report was for the week ending June 17th, which was fairly warm. The industry consensus ranged from the low to mid-60s in terms of total injections, but the actual report came in at 74 billion cubic feet, quite bearish on prices. Following the news, the July prompt month futures contract fell from US$6.70/MMBtu to $6.20. 2:30PM settlement saw a price of $6.239, which is down $0.619 from yesterday, or slightly over 9%. Expectations are that prices will continue to trade with the sub-$7 range up to $6.80, and should not rebound until late August to early September for the Fall ~CL

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