Thursday, April 13th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.174, a penny below Wednesday’s closing price of $3.187. Entering the market in a steady ascent, the contract found support near $3.220 by 9:20AM. Trading sideways through 10:30AM, prices jumped to the intraday high of $3.243 as the weekly storage report was released. Returning to the $3.22 mark within minutes, the contract arced lower to dip below $3.180 at midday, but posted a stable recovery to finish the day. May closed higher on Thursday at $3.227.
The EIA Natural Gas Storage Report published on Thursday showed a 10 BCF injection to storage for the week ended April 7th – above the market estimate of 8 BCF. Total working gas in storage was reported as 2,061 BCF; 16.8% below this time last year and 14.6% above the five-year average.
The NYMEX will be closed today, Friday, April 14th, in observance of Good Friday.
Additionally, cash prices were lower in New York and New England.
Natural Gas Glossary
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