April NYMEX Natural Gas Futures Contracts Closed at $2.820 on Wednesday, March 20th

Market Insights
Natural Gas
March 21, 2019
Wednesday, March 20th saw the front-month NYMEX Natural Gas Futures Contract open at $2.828, nearly five cents below Tuesday’s closing price of $2.874.  Jumping to the intraday high of $2.848 by 9:10AM, the contract returned to the $2.830 level by 10:00AM.  Posting multiple increases throughout the day that saw prices rise near $2.840 only to sink to $2.820 in the following hour, prices seesawed along $2.830 for the majority of the day as April closed lower on Wednesday at $2.820.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 48 BCF withdrawal from storage for the week ended March 15th.  This compares to an 86 BCF withdrawal at this time last year and a five-year average withdrawal amount of 56 BCF.

As of 8:55AM this morning in Globex, WTI Crude was down 27 cents; Natural Gas was down two cents; Heating Oil was down one cent; and Gasoline was down one cent.  
Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.