Friday, March 18th saw the April NYMEX Natural Gas Futures Contract open at of $4.933, seven cents below Thursday’s closing price of $4.990. Marking the intraday high of $4.949 as the opening bell rang out across the land, prices dipped to the $4.85 level ahead of 10:00AM and marked the intraday low of $4.836 at 11:10AM. Trading alongside $4.890 for the balance of the day, April closed lower on Friday at $4.863; up nearly 3% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 79 BCF withdrawal from storage for the week ended March 11 – in line with the market estimate of 75 BCF. Total working gas in storage was reported as 1,440 BCF; 19.3% below this time last year and 17.4% below the five-year average.
As of 6:10AM EST this morning in Globex, WTI Crude was up $3.70; Natural Gas was up four cents; Heating Oil was up 13 cents cents; and Gasoline was up five cents.
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