Thursday, April 20th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.188, just above Wednesday’s closing price of $3.185. Uncertain trading through opening hour saw prices fluctuate along the $3.18 mark, recording the intraday high of $3.196 at 9:40AM. Trending lower to $3.165 as the 10:30AM storage report drew near, a bearish storage injection gave the market pause before sinking to $3.138 ten minutes later. Moving sideways along $3.155 to finish the morning, a slow descent to the intraday low of $3.134 by 1:10PM was recovered in the subsequent hour, as May closed lower on Thursday at $3.159.
The EIA Natural Gas Storage Report published on Thursday showed a 54 BCF injection to storage for the week ended April 14th – larger than the market estimate of 45 BCF. Total working gas in storage was reported as 2,115 BCF; 14.8% below this time last year and 15.4% above the five-year average.
This morning in Globex, WTI Crude was down slightly; Natural Gas was unchanged; Heating Oil was unchanged; and, Gasoline was up one cent. Additionally, cash prices were lower in New York and New England .
Natural Gas Glossary
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