Thursday, April 22nd saw the front-month NYMEX Natural Gas Futures Contract open at an intraday low of $2.666, almost three cents below Wednesday’s closing price of $2.692. Prices rose steadily until the 10:30AM release of the storage report, where prices jumped to $2.768. Shortly after, prices reached their intraday high of $2.772 at 12:00. Prices would fall slightly from the high, closing out the day at $2.749.
The EIA Natural Gas Storage Report published on Thursday showed a 37 BCF injection to storage for the week ended April 16th – below the market estimate of 50 BCF. Total working gas in storage was reported as 1,883 BCF; 11.7% below this time last year and 0.7% above the five-year average.
As of 9:50AM EST this morning in Globex, WTI Crude was up 15 cents; Natural Gas was unchanged; Heating Oil was unchanged; and Gasoline was up one cent.
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