February NYMEX Natural Gas Futures Contract Closed at $3.710 on Friday, January 6th

Friday, January 6th saw the February NYMEX Natural Gas Futures Contract open at $3.664, six cents below Thursday’s closing price of $3.720. With forecasts remaining unquestionably bearish for the weeks ahead, the contract managed to fight off any additional losses through the morning. Peaking at an intraday high of $3.839 at 1:25PM, February closed slightly lower at $3.71 on Friday.

The EIA Natural Gas Storage Report published on Thursday showed a 221 BCF withdrawal from storage for the week ended December 30 – below the market estimate of 245 BCF. Total working gas in storage was reported as 2,891 BCF; 9.6% below this time last year and 6.7% below the five-year average.

As of 6:35AM EST this morning in Globex, WTI Crude was up $2.48; Natural Gas was up twenty cents; Heating Oil was up nine cents; and Gasoline was up eight cents.
                                                                                                 
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