Tuesday, April 15th saw the front-month NYMEX Natural Gas contract open at $3.260, $0.065 cents below Monday’s closing price of $3.325. Recording the intraday low of $3.238 within minutes of the opening bell, prices fluctuated along the $3.30 level throughout the session as tariff wars continue to provide uncertainty. Short-term forecasts point to bearish temperatures and production is slightly down on the week. Reaching the intraday high of $3.349 at 2:15PM, May closed higher on Tuesday at $3.329.
The EIA Natural Gas Storage Report published last Thursday posted a 57 BCF injection to storage for the week ended April 4 – below the market estimate of a 65 BCF injection. Total working gas in storage was reported as 1,830 BCF; 19.7% below this time last year and 2.1% below the five-year average.
As of 6:50AM this morning in Globex, WTI Crude was up $0.490; Natural Gas was down $0.040; Heating Oil was up $0.018; and Gasoline was up $0.017.
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
