On Thursday, April 26th – settlement day for the May Contract – the front-month NYMEX Natural Gas Futures Contracts opened at $2.792, slightly above Wednesday’s closing price of $2.786. Trading steadily along the $2.79 level through 10:30AM, prices then jumped above the $2.81 level as the bullish storage report hit the wire. May settled higher on Thursday at $2.821. Similarly, the June contract closed three cents higher at $2.839.
The EIA Natural Gas Storage Report published on Thursday showed an 18 BCF withdrawal from storage for the week ended April 20th – above the market estimate of 13 BCF. Total working gas in storage was reported as 1,281 BCF; 41.2% below this time last year and 29.2% below the five-year average.
This morning in Globex, WTI Crude was down 26 cents; Natural Gas was down three cents; Heating Oil was down one cent; and, Gasoline was up slightly.
Natural Gas Glossary
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