May NYMEX Natural Gas Futures Contract Closed at $2.692 on Wednesday, April 21st

Wednesday, April 21st saw the front-month NYMEX Natural Gas Futures Contract open at $2.693, three cents below Tuesday’s closing price of $2.727.  Slipping to an intraday low of $2.666 at 9:10AM, the contract recorded an intraday high of $2.699 an hour later.  Awaiting today’s storage report, as forecasts remain unchanged, prices traded near $2.685 throughout the afternoon.  May closed lower on Wednesday at $2.692.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 50 BCF injection to storage for the week ended April 16th.  This compares to a 43 BCF injection at this time last year and a five-year average injection amount of 37 BCF.

As of 8:55AM EST this morning in Globex, WTI Crude was up 14 cents; Natural Gas was down 2 cents; Heating Oil was up 1 cent; and Gasoline was unchanged.
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