May 2, 2022
Friday, April 29
th saw the June NYMEX Natural Gas Futures Contract open at $7.080, nineteen cents above Thursday’s closing price of $6.888. Trading along the $7.060 level throughout the morning, marking the intraday low of $7.012 at 10:15AM, the contract crossed midday at $7115. Jumping to the $7.30 level at 12:30PM and tallying an intraday high of $7.335 at 2:00PM, Friday closed higher on Friday at $7.244; up nearly 11% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 40 BCF injection to storage for the week ended April 22 – in line with the market estimate of a 36 BCF injection. Total working gas in storage was reported as 1,490 BCF; 21.4% below this time last year and 17.0% below the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was down $3.15; Natural Gas was up four cents; Heating Oil was down four cents; and Gasoline was down five cents.
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