February 25, 2022
Thursday, February 24
th saw the April NYMEX Natural Gas Futures Contract open at of $4.886, twenty-nine cents above Wednesday’s closing price of $4.593. Marking the intraday high of $4.938 out of the gate and falling to an intraday low of $4.709 an hour later, prices trended upward following the weekly storage publication. Losing ground after midday, following heightened volatility due to the ongoing conflict between Ukraine and Russia, prices sank to an intraday low of $4.593 at 1:50PM. April closed higher on Thursday at $4.641.
The March contract settled lower at $4.568.
The EIA Natural Gas Storage Report published on Thursday showed a 129 BCF withdrawal from storage for the week ended February 18 – in line with the market estimate of 121 BCF. Total working gas in storage was reported as 1,782 BCF; 10.5% below this time last year and 10.7% below the five-year average.
As of 7:50AM EST this morning in Globex, WTI Crude was up 60 cents; Natural Gas was down 12 cents; Heating Oil was up slightly; and Gasoline was up one cent.
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