May NYMEX Natural Gas Futures Contracts Closed at $2.718 on Wednesday, April 4th

Wednesday, April 4th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.690, slightly below Tuesday’s closing price of $2.697.  Launching from the intraday low as markets opened, prices rose to the intraday high of $2.746 ahead of 10:00AM.  Gaining support from below-average temperatures that continue to plague the mid-Atlantic and Northeast, the contract traded along the $2.74 mark through 1:00PM.  Stepping downward to finish the day, May closed higher on Tuesday at $2.718.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 25 BCF withdrawal from storage for the week ended March 30th.  This compares to a 2 BCF injection at this time last year and a five-year average withdrawal amount of 28 BCF.

This morning in Globex, WTI Crude was down 19 cents; Natural Gas was down two cents; Heating Oil was one cent; and, Gasoline was down one cent.  
 
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