April 19, 2022
Monday, April 18
th saw the May NYMEX Natural Gas Futures Contract open at of $7.594, thirty cents above Thursday’s closing price of $7.300. Markets were closed Friday 4/15 in observance of Good Friday. Marking the intraday low of $7.556 within minutes of the open, prices shot higher as bullish weather forecasts, domestic storage concerns, and continued LNG exports continue to provide support. Surpassing $7.950 at midday, the contract soared a fresh 13-year intraday high of $8.065 at 12:55PM. Withdrawing to close out the day, May closed higher on Monday at $7.820.
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 10:40AM EST this morning in Globex, WTI Crude was down $4.87; Natural Gas was down 77 cents; Heating Oil was down 10 cents; and Gasoline was down 15 cents.
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