Natural Gas Prices Fluctuate Amid Market Uncertainty

Wednesday, March 25th saw the front-month NYMEX Natural Gas contract open at $2.915, $0.028 below Tuesday’s closing price $2.943. Recording the intraday low of $2.889 by 9:20AM, prices clawed higher through the morning as market uncertainty surrounding the war in the Middle East persists and LNG exports remain healthy. Crossing midday at $2.958 and climbing to the intraday high of $2.975, April closed higher on Wednesday at $2.952.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 48 BCF withdrawal from storage for the week ended March 20. This compares to a 37 BCF injection this time last year and a five-year average withdrawal amount of 21 BCF.

As of 7:45AM this morning in Globex, WTI Crude was up $3.690; Natural Gas was flat; Heating Oil was up $0.204; and Gasoline was up $0.052.

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