Thursday, April 29th saw the front-month NYMEX Natural Gas Futures Contract open at $2.947, a penny below Wednesday’s closing price of $2.960. Climbing to an intraday high of $2.971 by 9:10AM, the contract then withdrew to trade near $2.945 leading up to the weekly storage publication. Slipping to the $2.900 level as the bearish report hit the wire, prices fell to an intraday low of $2.883 at midday. June closed lower on Thursday at $2.911.
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 6:40AM EST this morning in Globex, WTI Crude was down 99 cents; Natural Gas was down one cent; Heating Oil was down one cent; and Gasoline was down slightly.
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