Wednesday, April 14th saw the front-month NYMEX Natural Gas Futures Contract open at $2.651, three cents above Tuesday’s closing price of $2.619. Ascending to an intraday high of $2.666 soon after the opening bell, prices then trended lower as forecasts for cooler temperatures have left traders uninspired. Trading near $2.630 through midday, the contract tallied an intraday low of $2.609 at 1:40PM as May closed nearly flat on Wednesday at $2.618.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 50 BCF injection to storage for the week ended April 9th. This compares to a 73 BCF injection at this time last year and a five-year average injection amount of 26 BCF.
As of 6:10AM EST this morning in Globex, WTI Crude was down 37 cents; Natural Gas was down two cents; Heating Oil was down one cent; and Gasoline was down one cent.
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