On Thursday, April 27th, the June NYMEX Natural Gas Futures Contracts began trading as the prompt month. Opening at $3.222, five cents below Wednesday’s closing price of $3.271, prices descended initially to find the intraday low of $3.207. Climbing to peak above $3.245 thirty minutes later, the contract reverted to opening level territory as the weekly storage publication approached. Treading gradually upward to record the intraday high of $3.266 by 10:40AM, selling soon directed the market down near $3.230. Regaining its composure, June posted modest gains into the afternoon to close lower on Thursday at $3.239.
The EIA Natural Gas Storage Report published on Thursday showed a 74 BCF injection to storage for the week ended April 21st – just above the market estimate of 72 BCF. Total working gas in storage was reported as 2,189 BCF; 14.1% below this time last year and 15.8% above the five-year average.
This morning in Globex, WTI Crude was up 61 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was up three cents. Additionally, cash prices were lower in New York and New England.
Natural Gas Glossary
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