Wednesday, April 28th – settlement day for the May contract — saw the front-month NYMEX Natural Gas Futures Contract open at $2.905, three cents above Tuesday’s closing price of $2.873. Trading within a tight band near $2.910, May settled higher at $2.925. The more actively traded June contract opened at $2.973, three cents above Tuesday’s closing price of $2.942. Finding continued support from scheduled pipeline maintenance, prices rose to an intraday high of $2.988 at 9:50AM. June closed higher on Wednesday at $2.960.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a nine BCF injection to storage for the week ended April 23rd. This compares to a 70 BCF injection at this time last year and a five-year average injection amount of 67 BCF.
As of 7:30AM EST this morning in Globex, WTI Crude was up 90 cents; Natural Gas was unchanged; Heating Oil was up three cents; and Gasoline was up two cents.
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