Thursday, April 25
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.632, two cents below Wednesday’s closing price of $1.653. In an up-and-down day, where storage was expected to be the key driver, prices fluctuated within three cents of $1.630 as this week’s injection infuse additional bearish sentiment to the market. Marking the intraday low of $1.601 at 10:30AM and the intraday high of $1.655 ahead of midday, May closed lower on Thursday at $1.638.
Set to assume the front-month position on Monday, the more actively traded June contract closed nearly flat at $1.986.
The EIA Natural Gas Storage Report published on Thursday showed a 92 BCF injection to storage for the week ended April 19 – just above the market estimate 88 BCF. Total working gas in storage was reported as 2,425 BCF; 22.1% above this time last year and 37.0% above the five-year average.
As of 6:30AM EST this morning in Globex, WTI Crude was up 26 cents; Natural Gas was down six cents; Heating Oil was up two cents; and Gasoline was up one cent.
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