Monday, April 2nd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.755, two cents above Thursday’s closing price of $2.733. Prices collapsed as soon as markets opened yesterday, as traders were indifferent to the below average temperatures hanging around much of the upper Midwest and Northeast in the short-term. Despite expectations for another storage withdrawal for the week ended March 30th, the contract notched the intraday low of $2.650 by 11:30AM. Rising modestly into the afternoon, May closed lower on Monday at $2.683.
This morning in Globex, WTI Crude was up 24 cents; Natural Gas was unchanged; Heating Oil was up slightly; and, Gasoline was up two cents.
Natural Gas Glossary
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.