Thursday, April 30th saw the front-month NYMEX Natural Gas Futures Contract open at $1.860, a penny below Wednesday’s closing price of 1.869. Following a slight dip to an intraday low of $1.859 right out of the gate, the contract then traded along $1.875 until the weekly storage publication at 10:30AM. Shooting higher as the report hit the wire, prices rose as high as $1.922 at 10:50AM, before settling in near $1.890 and trading sideways into the afternoon. Trending higher near 2:00PM, June rose to an intraday high of $1.953 ahead of close, finishing higher on Thursday at $1.949.
The EIA Natural Gas Storage Report published on Thursday showed a 70 BCF injection to storage for the week ended April 24th – largely in line with the market estimate. Total working gas in storage was reported as 2,210 BCF: 54.9% above this time last year and 19.5% above the five-year average.
As of 7:50AM EST this morning in Globex, WTI Crude was up 77 cents; Natural Gas was up four cents; Heating Oil was unchanged; and Gasoline was down two cents.
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