May NYMEX Natural Gas Futures Contract Closed at $2.700 on Wednesday, April 10th

Wednesday, April 10th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.715, nearly two cents above Tuesday’s closing price of $2.699.  Falling to an intraday low of $2.686 by 9:10AM, prices rose in the subsequent two hours to tally the intraday high of $2.716 shortly after 11:00AM.  With little change to market conditions and markets awaiting today’s storage report, May closed nearly even on Wednesday at $2.700.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 30 BCF injection to storage for the week ended April 5th.  This compares to a 19 BCF withdrawal at this time last year and a five-year average injection amount of 5 BCF.

As of 8:45AM EST this morning in Globex, WTI Crude was down 85 cents; Natural Gas was down two cents; Heating Oil was down two cents; and Gasoline was down three cents.  

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