April NYMEX Natural Gas Futures Contract Closed at $1.827 on Wednesday, March 4th

Wednesday, March 4th saw the front-month NYMEX Natural Gas Futures Contract open at $1.802, nearly even to Tuesday’s closing price of $1.800.  Recording an intraday low of $1.799 minutes after the opening bell, prices rose to an intraday high of $1.845 by 9:30AM.  Posting a steady decline from this mark to reach $1.800 shortly past midday, the contract recovered in the following hours, as April closed higher on Wednesday at $1.827.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 110 BCF withdrawal from storage for the week ended February 28th. This compares to a 149 BCF withdrawal at this time last year and a five-year average withdrawal amount of 106 BCF.

As of 8:55AM EST this morning in Globex, WTI Crude was down 36 cents; Natural Gas was down two cents; Heating Oil was down two cents; and Gasoline was down one cent.

Natural Gas Glossary
Natural Gas Supplier
                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
 

This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.