Friday, January 21st – saw the front-month NYMEX Natural Gas Futures Contract open at $3.892, nine cents above Thursday’s closing price of $3.802. Touching down to an intraday low of $3.863 at 10:10AM, the contract mounted a steady recovery that would span late into the afternoon. Despite reaching an intraday high of $4.044 at 2:00PM and closing higher at $3.999, February was down 6% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 206 BCF withdrawal from storage for the week ended January 14th – above the market estimate of 188 BCF. Total working gas in storage was reported as 2,810 BCF; 7.4% below this time last year and 1.2% above the five-year average.
As of 6:45AM EST this morning in Globex, WTI Crude was down ten cents; Natural Gas was down three cents; Heating Oil was up one cent; and Gasoline was up one cent.
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