March 8, 2023
Tuesday, March 7
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.632, six cents above Monday’s closing price of $2.572. Following the previous session’s retreat, the contract traded within a four-cent range of $2.625 through midday as incoming frigid temperatures held off any additional selling. Trending higher through the afternoon, prices peaked at an intraday high of $2.694 ahead of 2:30PM. April closed higher on
Tuesday at $2.687.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 82 BCF withdrawal from storage for the week ended March 3. This compares to a 124 BCF withdrawal at this time last year and a five-year average withdrawal amount of 101 BCF.
As of 7:10AM EST this morning in Globex, WTI Crude was down twelve cents; Natural Gas was down six cents; Heating Oil was down one cent; and Gasoline was down one cent.
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