March 25, 2021
Wednesday, March 24th saw the front-month NYMEX Natural Gas Futures Contract open at $2.532, three cents above Tuesday’s closing price of $2.508. Extending to a modest intraday high of $2.545 minutes after trading floors opened, the contract traded along $2.535 through the morning. With bearish sentiment weighing on prices, the contract fell to an intraday low of $2.514 at 1:10PM. April closed slightly higher on Wednesday at $2.518.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 14 BCF withdrawal from storage for the week ended March 19
th. This compares to a 26 BCF withdrawal at this time last year and a five-year average withdrawal amount of 51 BCF.
As of 8:15AM EST this morning in Globex, WTI Crude was down $1.81; Natural Gas was down one cent; Heating Oil was down four cents; and Gasoline was down five cents.
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