March 11, 2021
Wednesday, March 10th saw the front-month NYMEX Natural Gas Futures Contract open at $2.634, almost three cents below Wednesday’s closing price of $2.662. Prices dropped to an intraday low soon after open, falling to $2.618 at 9:30AM. Prices rose very steadily throughout the rest of the trading day, climbing to in intraday high of $2.707 just before close. Prices fell slightly in the last few minute of trading, closing the day at $2.692.
The EIA Natural Gas Storage Report is due out today at 10:30AM. The report is expected to show a 73 BCF withdrawal from storage for the week ended March 5
th. This compares to a 72 BCF withdrawal at this time last year and a five-year average withdrawal amount of 89 BCF.
As of 9:10AM EST this morning in Globex, WTI Crude was up eighty-six cents; Natural Gas was down three cents; Heating Oil was up one cent; and Gasoline was up three cents.
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