Wednesday, April 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $1.830, a penny above Tuesday’s closing price of $1.821. Ascending from the intraday low of $1.829, prices rallied in the opening hour to reach above the $1.900 level. Peaking at a six-week intraday high of $1.952 at 10:40AM, a volatile swing then saw the contract fall below $1.860 at 1:30PM only to clamber up above $1.920 once again before 2:30PM. May closed higher on Wednesday at $1.939.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 40 BCF injection to storage for the week ended April 17th. This compares to a 92 BCF injection at this time last year and a five-year average injection amount of 49 BCF.
As of 8:15AM EST this morning in Globex, WTI Crude was up $2.40; Natural Gas was down two cents; Heating Oil was up four cents; and Gasoline was up seven cents.
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