April 24, 2023
Friday, April 21
st saw the front-month NYMEX Natural Gas Futures Contract open at $2.243, nearly even to Thursday’s closing price of $2.249. Climbing to the intraday high of $2.256 ahead of 9:30AM, steady bullish weather forecasts have provided support as the contract has stabilized near the $2.200 level. Falling to the intraday low of $2.195 at 10:55AM, prices lacked any material changes throughout the afternoon. May closed lower on Friday at $2.233; up nearly 6% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 75 BCF injection to storage for the week ended April 14 – above with the market estimate of 65 BCF. Total working gas in storage was reported as 1,930 BCF; 33.8% above this time last year and 20.5% above the five-year average.
As of 7:15AM EST this morning in Globex, WTI Crude was down 24 cents; Natural Gas was down four cents; Heating Oil was up one cent; and Gasoline was down two cents.
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