March 4, 2022
Thursday, March 3
rd saw the April NYMEX Natural Gas Futures Contract open at of $4.689, seven cents below Wednesday’s closing price of $4.762. Slipping to an intraday low of $4.628 at 9:50AM, the contract was trading near $4.715 ahead of the weekly storage publication. Trending higher into he earlier afternoon, prices reach an intraday high of $4.829 at 12:30PM. April closed lower on Thursday at $4.722.
The EIA Natural Gas Storage Report published on Thursday showed a 139 BCF withdrawal from storage for the week ended February 25 – in line with the market estimate of 138 BCF. Total working gas in storage was reported as 1,643 BCF; 11.6% below this time last year and 13.4% below the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was up $1.91; Natural Gas was up eleven cents; Heating Oil was up four cents; and Gasoline was up four cents.
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