March NYMEX Natural Gas Futures Contract Closed at $4.306 on Tuesday, February 15th

Tuesday, February 15^th saw the front-month NYMEX Natural Gas Futures Contract open at of $4.365, seventeen cents above Monday’s closing price of $4.195. Reaching the intraday high of $4.387 early on, prices fell to the $4.230 level by 10:30AM as the contract got ahead of itself in pre-session trading. Reacting to the latest weather forecasts, the contract recorded an intraday low of $4.208 at 2:00PM, March closed higher on Tuesday at $4.306.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 167 BCF withdrawal from storage for the week ended February 11. This compares to a 237 BCF withdrawal at this time last year and a five-year average withdrawal amount of 154 BCF.

As of 6:45AM EST this morning in Globex, WTI Crude was up $1.09; Natural Gas was up 24 cents; Heating Oil was up one cent; and Gasoline was up two cents.

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