April 15, 2022
Thursday, April 14
th saw the May NYMEX Natural Gas Futures Contract open at of $7.021, two cents above Wednesday’s closing price of $6.997. Fluctuating along either side of $7.000 through 10:30AM, prices surged upwards as the weekly storage report brought news of an expected injection. Peaking at $7.257 at 10:45AM, the contract withdrew near midday only to mount another ascent. Marking another 13-year intraday high of $7.322 at 2:00PM, May closed higher on Thursday at $7.300.
The EIA Natural Gas Storage Report published on Thursday showed a 15 BCF injection to storage for the week ended April 8 – in line with the market estimate of a 20 BCF injection. Total working gas in storage was reported as 1,397 BCF; 23.9% below this time last year and 17.8% below the five-year average.
As of 6:55AM EST this morning in Globex, WTI Crude was up $2.70; Natural Gas was up 30 cents; Heating Oil was up 14 cents; and Gasoline was up nine cents.
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