April NYMEX Natural Gas Futures Contract Closed at $4.568 on Tuesday, March 15th

Tuesday, March 15th saw the April NYMEX Natural Gas Futures Contract open at of $4.538 twelve cents below Monday’s closing price of $4.658. Marking an intraday low of $4.459 at 10:15AM amid mild forecasts during a shoulder month and healthy production, the contract then made a bid to recoup some lost ground. Ascending to the intraday high of $4.628 at 1:00PM, April closed lower on Tuesday at $4.568.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 108 BCF withdrawal from storage for the week ended March 11. This compares to a 11 BCF withdrawal at this time last year and a five-year average withdrawal amount of 65 BCF.

As of 7:15AM EST this morning in Globex, WTI Crude was down 44 cents; Natural Gas was up 12 cents; Heating Oil was up two cents; and Gasoline was up slightly.
 
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