April 13, 2022
Tuesday, April 12
th saw the May NYMEX Natural Gas Futures Contract open at of $6.703, six cents above Monday’s closing price of $6.643. Falling to the intraday low of $6.600 within minutes of the opening bell, the contract traded near $6.680 through 10:30AM when traders mounted a steep ascent. Achieving a 13-year intraday high of $6.947 at 11:40AM, bullish temperatures in parts of the country and persistent supply concerns regarding Europe’s shortage have kept markets volatile. Falling back to earth as the afternoon drew on, May closed higher on Tuesday at $6.680.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 29 BCF injection to storage for the week ended April 8. This compares to a 61 BCF injection at this time last year and a five-year average injection amount of 33 BCF.
As of 6:30AM EST this morning in Globex, WTI Crude was up $1.73; Natural Gas was up 13 cents; Heating Oil was up seven cents; and Gasoline was up five cents.
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