Natural Gas Storage Report: Anticipated Data Releases

Tuesday, March 25^th saw the front-month NYMEX Natural Gas Futures Contract open at $3.920, up $0.006 compared to Monday’s closing price of $3.914. Recording the intraday high of $3.968 ahead of 9:10AM, the contract cascaded lower throughout the session. Marking the intraday low of $3.796 at 2:00PM, strengthening production and weak demand overcame storage deficit woes. April closed lower on Tuesday at $3.840.

The more actively traded May contract finished $0.077 lower on the day at $3.877.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 34 BCF injection to storage for the week ended March 21. This compares to a 36 BCF withdrawal this time last year and a five-year average withdrawal amount of 31 BCF.

As of 6:45AM this morning in Globex, WTI Crude was up $0.650; Natural Gas was up $0.032; Heating Oil was up $0.010; and Gasoline was up $0.013.

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