February NYMEX Natural Gas Futures Contract Closed at $4.031 on Wednesday, January 19th

Wednesday, January 19th – saw the front-month NYMEX Natural Gas Futures Contract open at $4.301, two cents above Tuesday’s closing price of $4.283. Peaking early on at an intraday high of $4.337, the contract then tumbled lower despite the widespread cold that will cover the country. Crossing midday near $4.120, prices slipped to an intraday low of $4.010 at 2:20PM. February closed lower on Wednesday at $4.031.
 
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 188 BCF withdrawal from storage for the week ended January 14th. This compares to a 187 BCF withdrawal at this time last year and a five-year average withdrawal amount of 167 BCF.
 
As of 7:00AM EST this morning in Globex, WTI Crude was down 11 cents; Natural Gas was down six cents; Heating Oil was down three cents; and Gasoline was down slightly.
 
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