Wednesday, March 4th saw the front-month NYMEX Natural Gas Futures Contract open at $1.802, nearly even to Tuesday’s closing price of $1.800. Recording an intraday low of $1.799 minutes after the opening bell, prices rose to an intraday high of $1.845 by 9:30AM. Posting a steady decline from this mark to reach $1.800 shortly past midday, the contract recovered in the following hours, as April closed higher on Wednesday at $1.827.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 110 BCF withdrawal from storage for the week ended February 28th. This compares to a 149 BCF withdrawal at this time last year and a five-year average withdrawal amount of 106 BCF.
As of 8:55AM EST this morning in Globex, WTI Crude was down 36 cents; Natural Gas was down two cents; Heating Oil was down two cents; and Gasoline was down one cent.
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