Natural Gas Market Update: Key Insights and Trends

Tuesday, April 8^th saw the front-month NYMEX Natural Gas contract open at $3.743, $0.088 cents above Monday’s closing price of $3.655. Ascending to the intraday high of $3.782 by 9:35AM, the contract then resumed the previous day’s withdrawal amid bearish fundamentals. Falling to cross midday at $3.583, short-term bearish weather forecasts and demand combined with ongoing tariff wars. Marking an eight-week intraday low of $3.462 ahead of 2:30PM, May closed lower on Tuesday at $3.465.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 65 BCF injection to storage for the week ended April 4. This compares to a 24 BCF injection this time last year and a five-year average injection amount of 17 BCF.

As of 7:35AM this morning in Globex, WTI Crude was down $3.660; Natural Gas was down $0.041; Heating Oil was down $0.102; and Gasoline was down $0.088.

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