April NYMEX Natural Gas Futures Contract Closed at $4.526 on Wednesday, March 9th

Wednesday, March 9^th saw the April NYMEX Natural Gas Futures Contract open at of $4.486, four cents below Tuesday’s closing price of $4.527. Tallying the intraday low of $4.465 early on, prices rose to an intraday high of $4.591 by 10:30AM. Gauging the impact of warming forecasts and the ongoing conflict in Ukraine, the contract traded along $4.550 for the balance of the day. April closed nearly flat on Wednesday at $4.526.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 150 BCF withdrawal from storage for the week ended March 4. This compares to a 52 BCF withdrawal at this time last year and a five-year average withdrawal amount of 89 BCF.

As of 6:15AM EST this morning in Globex, WTI Crude was up $4.70; Natural Gas was up eight cents; Heating Oil was up 22 cents; and Gasoline was up 11 cents.

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