March 25, 2024
Friday, March 22
nd saw the front-month NYMEX Natural Gas Futures Contract open at $1.668, a penny below Thursday’s closing price of $1.683. In an uneventful day of trading, prices traded within a narrow band near the $1.660 level throughout the day; marking an intraday low of $1.647 at 9:30AM and an intraday high of $1.675 at 1:45PM. April closed lower on Friday at $1.659.
The EIA Natural Gas Storage Report published last Thursday showed a 7 BCF injection to storage for the week ended March 15 – in line with the market estimate 1 BCF. Total working gas in storage was reported as 2,332 BCF; 21.4% above this time last year and 41.0% above the five-year average.
As of 7:20AM EST this morning in Globex, WTI Crude was up 32 cents; Natural Gas was down six cents; Heating Oil was up two cents; and Gasoline was down one cent.
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