Tuesday, March 29th – settlement day for the April contract – saw the front-month NYMEX Natural Gas Futures Contract open at of $5.378, thirteen cents below Monday’s closing price of $5.508. Finding support early on, prices rose to the intraday high of $5.516 at 9:25AM. Trending lower soon thereafter as weather forecasts turn bearish, as seasonal temperatures are expected to return, the contract crossed midday near $5.390. Falling to an intraday low of $5.322 at 2:25PM, April settled lower on Tuesday at $5.336.
The more actively traded May contract opened at $5.430, eleven cents below Monday’s closing price of $5.538. Blazing a similar trail as its predecessor, the contract rose to an intraday high early on and ultimately succumbed to bearish fundamentals. May closed lower on Tuesday at $5.330.
As of 7:05AM EST this morning in Globex, WTI Crude was up $2.55; Natural Gas was up one cent; Heating Oil was up five cents; and Gasoline was up six cents.
Natural Gas Glossary
Natural Gas Supplier
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.
