Natural Gas Market Update for March Nineteenth

Wednesday, March 19^th saw the front-month NYMEX Natural Gas Futures Contract open at $4.166, up $0.114 compared to Monday’s closing price of $4.052. With little change to fundamentals overnight, hindered production and steady LNG demand, prices moved sideways along $4.150 through the morning. Ascending to the intraday high of $4.256 at 2:25PM, April closed higher on Wednesday at $4.247.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 2 BCF withdrawal from storage for the week ended March 14. This compares to a 7 BCF injection 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 flat; Natural Gas was down $0.071; Heating Oil was down $0.002; and Gasoline was down $0.008.

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