April 22, 2024
Friday, April 19
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.764, nearly a penny above Thursday’s closing price of $1.757. Combating mixed fundamentals for supportive weather forecasts and lackluster export numbers, prices rose early on to record the intraday high of $1.806 by 9:30AM. Pulling back to record the intraday high of $1.742 shortly after midday, the contract traded along $1.755 to finish the day. May closed slightly lower on Friday at $1.752.
The EIA Natural Gas Storage Report published last Thursday showed a 50 BCF injection to storage for the week ended April 12 – below the market estimate 56 BCF. Total working gas in storage was reported as 2,333 BCF; 22.2% above this time last year and 36.4% above the five-year average.
As of 6:20AM EST this morning in Globex, WTI Crude was down 33 cents; Natural Gas was down one cent; Heating Oil was up one cent; and Gasoline was down one cent.
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