March 29, 2021
Friday, March 26th saw the front-month NYMEX Natural Gas Futures Contract open at $2.565, just below Thursday’s closing price of $2.570. Ascending to an intraday high of $2.583 at 9:20AM, prices withdrew to trade near $2.560 through midday. With healthy LNG demand offsetting mild forecasts, April managed to stave off any material losses, closing lower on Friday at $2.557
The EIA Natural Gas Storage Report published on Thursday showed a 36 BCF withdrawal from storage for the week ended March 19
th – above the market estimate of 14 BCF. Total working gas in storage was reported as 1,746 BCF; 13.1% below this time last year and 4.3% below the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was up 48 cents; Natural Gas was flat; Heating Oil was up one cent; and Gasoline was up three cents.
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