May NYMEX Natural Gas Futures Contract Closed at $2.727 on Tuesday, April 20th

Tuesday, April 20th saw the front-month NYMEX Natural Gas Futures Contract open at $2.730, two cents below Monday’s closing price of $2.749.  Marking the intraday low of $2.719 soon after the opening bell, prices rose to an intraday high of $2.745 at 10:30AM.  Trading along either side of $2.730 for the balance of the day, May closed lower on Tuesday at $2.727.

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 6:10AM EST this morning in Globex, WTI Crude was down 66 cents; Natural Gas was down one cent; Heating Oil was down two cents; and Gasoline was down two cents.
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