January NYMEX Natural Gas Futures Contract Closed at $3.690 on Friday, December 17th

Friday, December 17th  saw the front-month NYMEX Natural Gas Futures Contract open at $3.704, six cents below Thursday’s closing price of $3.766. Falling to the intraday low of $3.674 by 9:15AM, prices then posted a choppy ascent that would peak at an intraday high of $3.814 at 11:30AM. Trending downward into the afternoon as forecasts remain uncertain, January closed lower on Friday at $3.690, down nearly 6% on the week.
 
The EIA Natural Gas Storage Report published on Thursday showed an 88 BCF withdrawal from storage for the week ended December 10th–greater than the market estimate of 65 BCF. Total working gas in storage was reported as 3,417 BCF; 8.7% below this time last year and 1.8% below the five-year average.
 
As of 6:35AM EST this morning in Globex, WTI Crude was down $2.67; Natural Gas was up seven cents; Heating Oil was down seven cents; and Gasoline was down five cents.
 
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