Friday, January 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.140, two cents above Thursday’s closing price of $2.122. Falling to an intraday low of $2.115 by 9:10AM, prices traded along the $2.13 level until the weekly storage publication at 10:30AM. Gaining momentum shortly after the report hit the wire, the contract rose to an intraday high of $2.163 by 11:10AM. Trending lower into the afternoon, February closed higher on Friday at $2.130.
The EIA Natural Gas Storage Report published on Friday showed a 58 BCF withdrawal from storage for the week ended December 27th – just below the market estimate of 61 BCF. Total working gas in storage was reported as 3,192 BCF: 17.9% above this time last year and 1.2% below the five-year average.
As of 8:55AM EST this morning in Globex, WTI Crude was up 77 cents; Natural Gas was up two cents; Heating Oil was unchanged; and Gasoline up two 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.
