Thursday, March 19th saw the front-month NYMEX Natural Gas contract open at $3.186, $0.121 above Wednesday’s closing price $3.065. Continuing the overnight rally, as War in Iran continued to escalate, prices rose to the intraday high of $3.269 just after 9:30AM. Trading sideways along $3.240 leading up to the weekly storage publication, the contract its lost momentum following the first injection of year, falling to intraday low of $3.131 at 12:25PM. April closed higher on Thursday at $3.166.
The EIA Natural Gas Storage Report published Thursday posted a 35 BCF injection to storage for the week ended March 13 – in line with the market estimate of a 37 BCF injection. Total working gas in storage was reported as 1,883 BCF; 10.4% above this time last year and 2.6% above the five-year average.
As of 6:05AM this morning in Globex, WTI Crude was up $0.860; Natural Gas was up $0.003; Heating Oil was up $0.139; and Gasoline was up $0.076.
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