Tuesday, April 26th saw the May NYMEX Natural Gas Futures Contract open at $6.882, twenty-one cents above Monday’s closing price of $6.669. Following a pre-session rally, prices rose to an intraday high of $7.010 at 10:30AM upon renewed supply concerns as maintenance hinders production. Crossing midday at $6.953, the contract moved sideways until slipping to the intraday low of $6.815 at 2:20PM. May closed higher on Tuesday at $6.850.
Posting a similar path, the more actively traded June contract opened at $7.007, twenty cents above Monday’s closing price of $6.805. Ready to assume the prompt month come Thursday, June closed higher yesterday at $6.978.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 35 BCF injection to storage for the week ended April 22. This compares to a 15 BCF injection at this time last year and a five-year average injection amount of 53 BCF.
As of 7:00AM EST this morning in Globex, WTI Crude was up 25 cents; Natural Gas was up six cents; Heating Oil was down 12 cents; and Gasoline was up one cent.
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