February 28, 2022
Friday, February 25
th saw the April NYMEX Natural Gas Futures Contract open at of $4.506, fourteen cents below Thursday’s closing price of $4.641. Marking the intraday high of $4.581 early on, prices slipped as low as $4.476 by 11:00AM as markets seemed to stabilize ahead of the weekend. Trading sideways near $4.470 through the afternoon, April closed lower on Friday at $4.470; up nearly 1% on the week.
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 7:00AM EST this morning in Globex, WTI Crude was up $4.46; Natural Gas was up nine cents; Heating Oil was up 11 cents; and Gasoline was up 11 cents.
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