Natural Gas Insights: Weekly Storage Injection Report

Wednesday, April 23^rd saw the front-month NYMEX Natural Gas contract open at $3.005, $0.002 cents below Tuesday’s closing price of $3.007. Prices fluctuated steadily at the $3.00 price level throughout the trading session. Falling to the intraday low of $2.973 ahead of 10:30AM, prices then quickly rose to the intraday high of $3.074 at 12:30PM, then tapered off throughout the afternoon. May closed higher at $3.022 Wednesday.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show an 80 BCF injection to storage for the week ended April 18. This compares to a 92 BCF injection this time last year and a five-year average injection amount of 58 BCF.

As of 9:15AM this morning in Globex, WTI Crude was up $0.860; Natural Gas was down $0.090; Heating Oil was up $0.016; and Gasoline was up $0.016.

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