Save for later Print Download Share LinkedIn Twitter The July natural gas futures rally stalled Wednesday in the lower $3-teens per million Btu. The prompt month, inched up 0.1¢ to end the session at $3.129/MMBtu after trading in a $3.106-$3.168 range. The weather outlook is mixed. Very hot weather with highs in the 90s and 100s is expected in the central and southern US and 80s in the Great Lakes and much of the East. California and the Northwest will see milder weather with showers and highs in the 60s and 70s. The 12-month strip was 0.1¢ higher at $3.108, while the 2022 calendar strip was down 0.7¢ at $2.923 (Futures contracts). * * * Northeast daily spot prices fell as milder weather moves in with Transco Z6 - Non-NY seeing the most significant price move of the day, falling 60¢ to $2.30, while Transco zone 6 New York was $2.29. Boston-area, Algonquin declined 61¢ to average $2.65. This compared to benchmark Henry Hub cash prices that were down 1¢ at $3.09. In West Texas, cash prices at the Permian's Waha Hub were flat at $2.75. Meanwhile, Rockies leader Kern/Opal rose 13¢ to $2.86, SoCal Citygate declined 9¢ to average $3.49 and Northwest Sumas gained 9¢ to average $2.81. In Canada, Alberta benchmark Aeco fell 1¢ to $2.53 (Daily spot prices). * * * July WTI crude closed down 9¢ at $69.96 per barrel Wednesday following a report that showed US crude inventories fell, while fuel stocks rose. The EIA reported a 5.2 million-barrel decline in crude inventories against expectations for a 2 million-barrel drop. The EIA also reported that gasoline stocks rose by 7 million barrels, while a 698,000-barrel build was expected. Distillates, including heating oil and diesel, rose by 4.4 million barrels against an expected 1.4 million-barrel decline.
