April 4, 2019
Wednesday, April 3
rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.667, two cents below Tuesday’s closing price of $2.684. Lacking any major activity throughout the day’s session, as prices were range bound between $2.658 and $2.686. Traders are likely waiting for today’s storage report as seasonal temperatures won’t be impacting the contract during the shoulder months. May closed lower on Wednesday at $2.677.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 15 BCF injection to storage for the week ended March 29
th. This compares to a 29 BCF withdrawal at this time last year and a five-year average withdrawal amount of 23 BCF.
As of 8:30AM EST this morning in Globex, WTI Crude was up 23 cents; Natural Gas was down one cent; Heating Oil was up one cent; and Gasoline was down slightly.
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