Thursday, January 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.169, two cents below Tuesday’s closing price of $2.189. Tallying an intraday high of $2.170 as markets opened, prices fell to the $2.12 mark by 11:00AM as steady production and unseasonal temperatures persist. Flirting with five-month lows, the contract fell to an intraday low of $2.116 at 1:40PM. February closed lower on Thursday at $2.122.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 61 BCF withdrawal from storage for the week ended December 27th. This compares to a 20 BCF withdrawal at this time last year and a five-year average withdrawal amount of 89 BCF.
As of 8:40AM EST this morning in Globex, WTI Crude was up $2.17; Natural Gas was up one cent; Heating Oil was up six cents; and Gasoline up five cents.
Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
