April 14, 2022
Wednesday, April 13
th saw the May NYMEX Natural Gas Futures Contract open at of $6.850, seventeen cents above Tuesday’s closing price of $6.680. Marking the intraday low of $6.753 by 9:15AM, the contract continued its bullish trajectory to cross midday near $6.931. Jumping to a fresh multi-year intraday high of $7.025 at 2:00PM, supply concerns persist as production wains and LNG exports remain strong. May closed higher on Wednesday at $6.997.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 20 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 7:40AM EST this morning in Globex, WTI Crude was down $1.25; Natural Gas was up 10 cents; Heating Oil was up four cents; and Gasoline was down four cents.
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