Natural Gas Market Update for March 26

Wednesday, March 26^th saw the front-month NYMEX Natural Gas Futures Contract open at $3.843, up $0.003 compared to Tuesday’s closing price of $3.840. Trading within a tight band near $3.880 throughout the morning, prices rose to an intraday high of $3.924 at 1:00PM. Falling to the intraday low of $3.834 ahead of 2:00PM, steady LNG demand helped to keep prices afloat. April closed higher on Wednesday at $3.861.

The more actively traded May contract finished $0.005 lower on the day at $3.872.

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 7:05 AM this morning in Globex, WTI Crude was down $0.190; Natural Gas was down $0.059; Heating Oil was down $0.009; and Gasoline was up $0.005.

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