March 14, 2022
Friday, March 11
th saw the April NYMEX Natural Gas Futures Contract open at of $4.704, seven cents above Thursday’s closing price of 4.631. In a relatively calm day, given the past week, prices chopped around near $4.730 through the morning hours. Jumping to an intraday high of $4.797 at 12:20PM, only to fall to the intraday low of $4.673 ninety minutes later, April closed higher on Friday at $4.725; down nearly 6% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 124 BCF withdrawal from storage for the week ended March 4 – below the market estimate of 150 BCF. Total working gas in storage was reported as 1,519 BCF; 15.6% below this time last year and 16.0% below the five-year average.
As of 6:30AM EST this morning in Globex, WTI Crude was down $5.86; Natural Gas was down twenty cents; Heating Oil was down nine cents; and Gasoline was down 10 cents.
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