April natural gas prices were under some slight pressure during early morning hours, as the market responded to March contract expiration during the previous session. Thursday's weakness in April natural gas managed to register a new contract low of $3.822. It is also possible that yesterday's EIA report that showed weekly natural gas storage down by 81 bcf provided some of the weakness. Total storage stands at 1,830 bcf or 3.2% below the 5 year average. Over the last four weeks natural gas storage has declined 712 bcf.
Join the Discussion