Tuesday, March 28
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.094, nearly a penny above Monday’s closing price of $2.088. Posting a staggered ascent through the morning to reach an intraday high of $2.114 ahead of 11:00AM, prices then withdrew through the afternoon hours. Falling to an intraday low of $2.025 near 2:30PM, warming forecasts have seemingly removed hope for a late-season cold surge. April
closed lower on Tuesday at $2.030.
The more actively traded May contract closed lower on Tuesday as well at $2.147, down seven cents on the day.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 50 BCF withdrawal from storage for the week ended March 24. This compares to a 26 BCF injection at this time last year and a five-year average withdrawal amount of 17 BCF.
As of 6:35AM EST this morning in Globex, WTI Crude was up 89 cents; Natural Gas was down three cents; Heating Oil was down one cent; and Gasoline was up one cent.
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