March NYMEX Natural Gas Futures Contract Closed at $2.567 on Tuesday, February 14th

Tuesday, February 14th saw the front-month NYMEX Natural Gas Futures Contract open at $2.559, fifteen cents above Monday’s closing price of $2.405. Marking the intraday low of $2.515 shortly after 9:30AM, the contract plotted its way upward as the Freeport LNG facility could be back online by next months’ time; helping to alleviate the current storage glut. Crossing midday at $2.538, prices rose to an intraday high of $2.602 by 2:15PM. March closed higher on Tuesday at $2.567.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 197 BCF withdrawal from storage for the week ended February 3. This compares to a 190 BCF withdrawal at this time last year and a five-year average withdrawal amount of 166 BCF.

As of 7:05AM EST this morning in Globex, WTI Crude was down 68 cents; Natural Gas was down one cent; Heating Oil was down five cents; and Gasoline was down three cents.
 

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