April 17, 2023
Friday, April 14
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.986, two cents below Thursday’s closing price of $2.007. Falling to a seven-month intraday low of $1.968 at 9:30AM as forecasts trended warmer overnight, prices then rose to cross midday at $2.077. Ascending to an intraday high of $2.126 ahead of 2:30PM as the previous session’s selloff was overdone, May closed defiantly higher on Friday at $2.114.
The EIA Natural Gas Storage Report published on Thursday showed a 25 BCF injection to storage for the week ended April 7 – below with the market estimate of 31 BCF. Total working gas in storage was reported as 1,855 BCF; 33.0% above this time last year and 18.9% above the five-year average.
As of 7:10AM EST this morning in Globex, WTI Crude was down 29 cents; Natural Gas was up five cents; Heating Oil was down one cent; and Gasoline was down three cents.
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