Wednesday, April 25th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.781, even with Tuesday’s closing price. Arcing lower through the morning hours to reach the intraday low of $2.755 at 11:00AM, the contract added a penny by noon and stabilized into the afternoon. Experiencing volatility ahead of today’s settlement, May jumped to the $2.79 level in the minutes before closing to finish higher on Wednesday at $2.786. The more heavily traded June contract traced a similar path, though closed marginally lower at $2.807.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 13 BCF withdrawal from storage for the week ended April 20th. This compares to a 74 BCF injection at this time last year and a five-year average injection amount of 60 BCF.
This morning in Globex, WTI Crude was up 59 cents; Natural Gas was up one cent; Heating Oil was up two cents; and, Gasoline was up two cents.
Natural Gas Glossary
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