April NYMEX Natural Gas Futures Contract Closed at $2.154 on Thursday, March 23rd

Market Insights
Natural Gas
March 24, 2023
Thursday, March 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.162, a penny below Wednesday’s closing price of $2.171. Ascending to the $2.200 level ahead of the weekly storage publication, prices rose to an intraday high of $2.261 soon after the report’s release. Trending lower into the afternoon to mark an intraday low of $2.137 at 1:50PM, April closed lower on Thursday at $2.154.

The EIA Natural Gas Storage Report published on Thursday showed a 72 BCF withdrawal from storage for the week ended March 17 – in line with the market estimate of 69 BCF. Total working gas in storage was reported as 1,900 BCF; 36.1% above this time last year and 22.7% above the five-year average.

As of 6:50AM EST this morning in Globex, WTI Crude was down $2.32; Natural Gas was up four cents; Heating Oil was down three cents; and Gasoline was down five cents.
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