May NYMEX Natural Gas Futures Contract Closed at $2.526 on Friday, April 9th

Market Insights
Natural Gas
April 12, 2021
Friday, April 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.534, a penny above Thursday’s closing price of $2.522.  Ascending to an intraday high of $2.552 within minutes of the opening bell, the contract traded along either side of $2.540 through midday as weather forecasts remained bullish. Falling to an intraday low of $2.522 at 1:10PM, May closed slightly higher on Friday at $2.526.

The EIA Natural Gas Storage Report published on Thursday showed a 20 BCF injection to storage for the week ended April 2nd – in line with the market estimate of 21 BCF.  Total working gas in storage was reported as 1,784 BCF; 11.6% below this time last year and 1.3% below the five-year average.

As of 7:30AM EST this morning in Globex, WTI Crude was up 78 cents; Natural Gas was up six cents; Heating Oil was up three cents; and Gasoline was up two cents.
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