March 18, 2022
Thursday, March 17
th saw the April NYMEX Natural Gas Futures Contract open at of $4.819, seven cents above Wednesday’s closing price of $4.748. Ascending from the intraday low of $4.811 soon after the open, prices rose to $4.900 ahead of the weekly storage release. Continuing its upward trajectory following the report’s publication, the contract rose to $4.997 at 11:25AM. Recording a near two-week intraday high of $5.001 ahead of 2:30PM, April closed higher on Thursday at $4.990.
The EIA Natural Gas Storage Report published on Thursday showed a 79 BCF withdrawal from storage for the week ended March 11 – in line with the market estimate of 75 BCF. Total working gas in storage was reported as 1,440 BCF; 19.3% below this time last year and 17.4% below the five-year average.
As of 6:35AM EST this morning in Globex, WTI Crude was up $1.27; Natural Gas was down 11 cents; Heating Oil was up five cents; and Gasoline was up one cent.
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