Thursday, April 18th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.503, slightly below Wednesday’s closing price of $2.517. Trailing downward early on to test three-year lows once again, tallying an intraday low of $2.485 at 10:10AM, prices then jumped higher as the storage publication hit the wire twenty minutes later. Despite an injection that landed on the higher side of expectations, the contract rose to an intraday high of $2.521 at 10:50AM. Descending below the $2.50 level by midday, May closed lower on Thursday at $2.490.
The EIA Natural Gas Storage Report published on Thursday showed a 92 BCF injection to storage for the week ended April 12th – nearly even to the market estimate of 94 BCF. Total working gas in storage was reported as 1,247 BCF; 4.4% below this time last year and 24.9% below the five-year average.
The NYMEX Trading floor will be closed today in observance of the Good Friday holiday.
Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
