March 7, 2019
Wednesday, March 6
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.873, a penny below Tuesday’s closing price of $2.884. Recording the intraday high of $2.874 within minutes opening, prices stabilized near $2.865 until 11:00AM when selling continued. Bottoming out at the intraday low of $2.822 by 11:40AM, the contract then moved cautiously higher into the afternoon to close lower on Wednesday at $2.841.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 135 BCF withdrawal from storage for the week ended March 1
st. This compares to a 57 BCF withdrawal at this time last year and a five-year average withdrawal amount of 109 BCF.
This morning in Globex, WTI Crude was up 60 cents; Natural Gas was down one cent; Heating Oil was up one cent; and Gasoline was up two cents.
Natural Gas Glossary
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