April NYMEX Natural Gas Futures Contract Closed at $4.863 on Friday, March 18th

Friday, March 18th saw the April NYMEX Natural Gas Futures Contract open at of $4.933, seven cents below Thursday’s closing price of $4.990. Marking the intraday high of $4.949 as the opening bell rang out across the land, prices dipped to the $4.85 level ahead of 10:00AM and marked the intraday low of $4.836 at 11:10AM. Trading alongside $4.890 for the balance of the day, April closed lower on Friday at $4.863; up nearly 3% on the week.

The EIA Natural Gas Storage Report published on Thursday showed a 79 BCF withdrawal from storage for the week ended March 11 – in line with the market estimate of 75 BCF. Total working gas in storage was reported as 1,440 BCF; 19.3% below this time last year and 17.4% below the five-year average.

As of 6:10AM EST this morning in Globex, WTI Crude was up $3.70; Natural Gas was up four cents; Heating Oil was up 13 cents cents; and Gasoline was up five cents.

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.