Natural Gas Weekly Summary and Price Trends

Thursday, April 3^rd saw the front-month NYMEX Natural Gas contract opened at $4.125, $0.070 cents above Wednesday’s closing price of $4.055. With tariff-related market uncertainty and weather forecasts providing support, prices rose to record the intraday high of $4.201 at 9:45AM. Trading near $4.150 ahead of the weekly storage publication, the contract traded sideways along the $4.150 level into the afternoon. Marking the intraday low of $4.120 at 12:15PM and again at 2:15PM, May closed higher on Thursday at $4.138.

The EIA Natural Gas Storage Report published on Thursday posted a 29 BCF injection to storage for the week ended March 28 – in line with the market estimate of a 23 BCF injection. Total working gas in storage was reported as 1,773 BCF; 21.7% below this time last year and 4.3% below the five-year average.

As of 7:00AM this morning in Globex, WTI Crude was down $3.320; Natural Gas was up $0.012; Heating Oil was down $0.116; and Gasoline was down $0.132.

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