Tuesday, January 25th – saw the front-month NYMEX Natural Gas Futures Contract open at $3.995, three cents below Monday’s closing price of $4.027. Touching down to an intraday low of $3.939 by 9:15AM, the contract chopped around the $3.980 level until ascending higher near midday. Uncertain weather forecasts have kept traders on their toes as we prepare for February’s settlement today. Marking an intraday high of $4.079 at 2:10PM, February closed higher on Tuesday at $4.053.
The more actively traded March contract closed higher as well at $3.894, up two cents.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 195 BCF withdrawal from storage for the week ended January 21st. This compares to a 128 BCF withdrawal at this time last year and a five-year average withdrawal amount of 161 BCF.
As of 7:00AM EST this morning in Globex, WTI Crude was up 47 cents; Natural Gas was up 25 cents; Heating Oil was up three cents; and Gasoline was up three cents.
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February NYMEX Natural Gas Futures Contract Closed at $4.053 on Tuesday, January 25th
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