Friday, February 27th saw the front-month April NYMEX Natural Gas contract open at $2.903, $0.048 above Thursday’s closing price $2.855. Prices dipped after opening to the intraday low of $2.853 and continued to buoy around that prices level throughout the remainder of the trading session, peaking at the intraday high of $2.906 ahead of 11:30AM. Prices closed lower at $2.859 Friday.
The EIA Natural Gas Storage Report published Thursday posted a 52 BCF withdrawal from storage for the week ended February 20 – above the market estimate of a 41 BCF withdrawal. Total working gas in storage was reported as 2,018 BCF; 7.5% below this time last year and 0.3% below the five-year average.
As of 9:55AM this morning in Globex, WTI Crude was up $4.440; Natural Gas was up $0.118; Heating Oil was up $0.370; and Gasoline was up $0.111.
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