Friday, April 30th saw the front-month NYMEX Natural Gas Futures Contract open at $2.942, three cents above Thursday’s closing price of $2.911. Tallying an intraday high of $2.962 at 9:20AM and an intraday low of $2.924 thirty minutes later, prices traded sideways for the majority of the day near $2.935. Following pipeline maintenance and expectations for cooler temperatures, the contract continued to trade near the $3.00 level last week. June closed higher on Friday at $2.931.
The EIA Natural Gas Storage Report published on Thursday showed a 15 BCF injection to storage for the week ended April 23rd – in line with the market estimate of nine BCF. Total working gas in storage was reported as 1,898 BCF; 13.7% below this time last year and 2.1% below the five-year average.
As of 8:10AM EST this morning in Globex, WTI Crude was up 24 cents; Natural Gas was up three cents; Heating Oil was up one cent; and Gasoline was down slightly.
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