May 3, 2019
Thursday, May 2
nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.604, nearly two cents below Wednesday’s closing price of $2.620. Extending to an intraday high of $2.614 as markets opened, prices were quick to retreat and settle in along $2.585 through 10:30AM. Shedding a few cents as the bearish storage report hit the wire, the contract fell to an intraday low of $2.564 at 10:50AM. Climbing into the afternoon in a recovery effort, June closed lower on Thursday at $2.589.
The EIA Natural Gas Storage Report published on Thursday showed a 123 BCF injection to storage for the week ended April 26
th – above the market estimate of 118 BCF. Total working gas in storage was reported as 1,462 BCF; 9.6% above this time last year and 17.8% below the five-year average.
As of 8:50 EST this morning in Globex, WTI Crude was up 27 cents; Natural Gas was down one cent; Heating Oil was down slightly; and Gasoline was up one cent.
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