Friday, April 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.746, nearly even to Thursday’s closing price of $2.749. In an uneventful day of trading, prices moved within a tight band near $2.745 as below average temperatures continue to provide support. Marking an intraday high of $2.762 at 11:20AM, May closed lower on Friday at $2.730, up 2% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 37 BCF injection to storage for the week ended April 16th – below the market estimate of 50 BCF. Total working gas in storage was reported as 1,883 BCF; 11.7% below this time last year and 0.7% above the five-year average.
As of 7:40AM EST this morning in Globex, WTI Crude was down 88 cents; Natural Gas was down one cent; Heating Oil was down three cents; and Gasoline was down four cents.
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