May NYMEX Natural Gas Futures Contract Closed at $1.872 on Tuesday, April 9th

Market Insights
Natural Gas
April 10, 2024
Tuesday, April 9th saw the front-month NYMEX Natural Gas Futures Contract open at $1.888, four cents above Monday’s closing price of $1.844. Climbing early on to reach an intraday high of $1.924 by 9:45AM, maintenance-induced declines in production provided support. Pulling back to cross midday at $1.880, the contract continued lower until finding a bottom of $1.843 at 1:15PM. May closed higher on Tuesday at $1.872.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 15 BCF injection to storage for the week ended April 4th. This compares to a 25 BCF injection this time last year and a five-year average injection amount of 24 BCF.

As of 7:00AM EST this morning in Globex, WTI Crude was up 51 cents; Natural Gas was up five cents; Heating Oil was up one cent; and Gasoline was up one cent.
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