June NYMEX Natural Gas Futures Contract Closed at $2.931 on Friday, April 30th

Market Insights
Natural Gas
May 3, 2021
Friday, April 30th saw the front-month NYMEX Natural Gas Futures Contract open at $2.942, three cents above Thursday’s closing price of $2.911.  Tallying an intraday high of $2.962 at 9:20AM and an intraday low of $2.924 thirty minutes later, prices traded sideways for the majority of the day near $2.935.  Following pipeline maintenance and expectations for cooler temperatures, the contract continued to trade near the $3.00 level last week.  June closed higher on Friday at $2.931.

The EIA Natural Gas Storage Report published on Thursday showed a 15 BCF injection to storage for the week ended April 23rd – in line with the market estimate of nine BCF. Total working gas in storage was reported as 1,898 BCF; 13.7% below this time last year and 2.1% below the five-year average.

As of 8:10AM EST this morning in Globex, WTI Crude was up 24 cents; Natural Gas was up three cents; Heating Oil was up one cent; and Gasoline was down slightly.
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.