Thursday, December 23rd – saw the front-month NYMEX Natural Gas Futures Contract open at $3.792 eighteen cents below Wednesday’s closing price of $3.976. Continuing the pre-session decline, prices slipped to an intraday low of $3.599 at 10:00AM. Jumping from $3.642 as the weekly storage report hit the wire, the contract reached $3.732 at 11:00AM and an intraday high of $3.817 at midday. January closed lower on Thursday at $3.731.
The EIA Natural Gas Storage Report published on Thursday showed a 55 BCF withdrawal from storage for the week ended December 17 – in line with the market estimate of 53 BCF. Total working gas in storage was reported as 3,362 BCF; 6.5% below this time last year and 1.0% above the five-year average.
As of 7:50AM EST this morning in Globex, WTI Crude was down $1.02; Natural Gas was up ten cents; Heating Oil was down three cents; and Gasoline was down two cents.
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