April NYMEX Natural Gas Futures Contracts Closed at $2.638 on Wednesday, March 21st

Market Insights
Natural Gas
Basis
NYMEX
March 22, 2018
Wednesday, March 21st saw the front-month NYMEX Natural Gas Futures Contracts open at $2.694, nearly two cents above Tuesday’s closing price of $2.675.  Rising to the intraday high of $2.697 ahead of 10:00AM, the contract soon exhausted its resources, as short-term demand wasn’t enough to keep prices afloat.  Crossing midday near $2.665, April fell to the intraday low of $2.634 before closing lower on Wednesday at $2.638.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show an 85 BCF withdrawal from storage for the week ended March 16th.  This compares to a 150 BCF withdrawal at this time last year and a five-year average withdrawal amount of 53 BCF.

This morning in Globex, WTI Crude was down 42 cents; Natural Gas was up slightly; Heating Oil was down one cent; and, Gasoline was down two cents.  
 
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