Natural Gas Prices Fluctuate Amid Market Changes

Tuesday, April 22^nd saw the front-month NYMEX Natural Gas contract open at $3.077, $0.061 cents above Monday’s closing price of $3.016. Prices decreased throughout the morning, never reaching above the opening price of $3.077. After falling to the intraday low of $2.957 ahead of 11:30AM, prices gradually increased and fluctuated along the $3.00 level throughout the afternoon. May closed lower at $3.007 on Tuesday.

The EIA Natural Gas Storage Report published on Thursday posted a 16 BCF injection to storage for the week ended April 11 – below the market estimate of a 25 BCF injection. Total working gas in storage was reported as 1,846 BCF; 20.6% below this time last year and 3.9% below the five-year average.

As of 9:15AM this morning in Globex, WTI Crude was down $0.240; Natural Gas was up $0.003; Heating Oil was down $0.009; and Gasoline was down $0.003.

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