May NYMEX Natural Gas Futures Contract Closed at $2.093 on Wednesday, April 12th

Market Insights
Natural Gas
April 13, 2023
Wednesday, April 12th saw the front-month NYMEX Natural Gas Futures Contract open at $2.181, just below Tuesday’s closing price of $2.186. Recording the intraday high of $2.193 by 9:15AM, prices trended lower through the morning as comfortable temperatures covered key demand areas of the country and storage balances remained healthy. Finding the intraday low of $2.072 at 2:15PM, May closed lower on Wednesday at $2.093.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 31 BCF injection to storage for the week ended April 7. This compares to a 15 BCF injection at this time last year and a five-year average injection amount of 28 BCF.

As of 7:20AM EST this morning in Globex, WTI Crude was down 42 cents; Natural Gas was up two cents; Heating Oil was down one cent; and Gasoline was down three cents.

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