Wednesday, January 10th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.944, two cents above Tuesday’s closing price of $2.923. A sluggish climb brought the contract to the intraday high of $2.976 by 10:00AM. Prices plummeted shortly thereafter, tumbling down to the intraday low of $2.869 before noon. Losing a chunk of the prior day’s gains amid an uncertain market, February closed lower on Wednesday at $2.906.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 326 BCF withdrawal from storage for the week ended January 5th. This compares to a 136 BCF withdrawal at this time last year and a five-year average withdrawal amount of 169 BCF.
This morning in Globex, WTI Crude was up 27 cents; Natural Gas was up 11 cents; Heating Oil was up slightly; and, Gasoline was up slightly.
Natural Gas Glossary
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