On Wednesday, April 26th – settlement day for the May Contract – the front-month NYMEX Natural Gas Futures Contracts opened at $3.062, two cents above Tuesday’s closing price of $3.043. Barreling higher out of the gate to eclipse $3.110 by 9:20AM, prices stabilized near this mark through 11:00AM. Stepping higher to seesaw along $3.125 late into the day, the contract clambered up to the intraday high of $3.170 at 2:20PM. Supported by expectations for cooler than normal weather, May settled higher on Wednesday at $3.142. Similarly, the June contract closed roughly ten cents higher at $3.271.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 72 BCF injection to storage for the week ended April 21st. This compares to a 73 BCF injection at this time last year and a five-year average injection amount of 57 BCF.
This morning in Globex, WTI Crude was down 93 cents; Natural Gas was down four cents; Heating Oil was down three cents; and, Gasoline was down three cents. Additionally, cash prices were lower in New York and higher in New England.
Natural Gas Glossary
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