May 5, 2021
Tuesday, May 4
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.993, three cents above Monday’s closing price of $2.966. Recording an intraday high of $2.995 within minutes of the opening bell, prices then retreated to record an intraday low of $2.932 at 10:20AM. Rising steadily into the afternoon as below average temperatures are expected to cover the Northeast, June closed nearly flat on Tuesday at $2.967.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 58 BCF injection to storage for the week ended April 30
th. This compares to a 109 BCF injection at this time last year and a five-year average injection amount of 81 BCF.
As of 7:15AM EST this morning in Globex, WTI Crude was up 70 cents; Natural Gas was up two cents; Heating Oil was up two cents; and Gasoline was up two cents
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