Another April Natural Gas Storage Withdrawal Expected as Futures Finish Near Even

  • May settles at $2.739, up 0.1 cents
  • EIA storage surveys show ~23-26 Bcf withdrawal expected for week ending April 13, versus five-year average build of 38 Bcf 
  • Limited price response to storage deficits “underscores supply-side strength”: OPIS
  • Waha down 10 cents as wide West Texas basis differentials continue
  • BREAKING: EIA reports a 36 Bcf withdrawal for the week ending April 13
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Natural Gas Futures Higher Amid Estimates for April Storage Withdrawal

  • May settles at $2.675, up 1.9 cents; June up 1.5 cents to $2.709
  • Estimates point to 12-14 Bcf withdrawal from EIA storage report versus norms of 9 Bcf injection
  • Inventories lowest since May 2014 but market has “shrugged its shoulders” as production surges: OPIS
  • El Paso Permian average drops as Tuesday’s low cheapest on record, DGPI prices show
  • BREAKING: EIA reports a 19 Bcf draw from storage for the week ending April 6
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