April 7, 2023
Thursday, April 6
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.136, two cents below Wednesday’s closing price of $2.155. Recording the intraday high of $2.138 at 9:30AM, prices hovered near $2.110 ahead of the weekly storage publication. Trending lower following the neutral storage withdrawal, the contract crossed midday at $2.085. Falling to the intraday low of $1.992 ahead of 2:30PM, May closed lower on Thursday at $2.011.
The EIA Natural Gas Storage Report published on Thursday showed a 23 BCF withdrawal from storage for the week ended March 31 – in line with the market estimate of 22 BCF. Total working gas in storage was reported as 1,830 BCF; 31.9% above this time last year and 19.5% above the five-year average.
As of 7:10AM EST this morning in Globex, WTI Crude was up nine cents; Natural Gas was down 14 cents; Heating Oil was down seven cents; and Gasoline was down one cent.
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