Thursday, December 27th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.587, roughly four cents above Wednesday’s closing price of $3.543. Slipping lower to mark the intraday low of $3.441 by 9:50AM, the contract rallied over the balance of the day to reach an intraday high of $3.666 at 2:10PM, settling higher at $3.642. The more heavily traded February contract posted similar activity to tally an intraday high of $3.554 at 2:20PM, closing higher on Thursday at $3.546.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 50 BCF withdrawal from storage for the week ended December 21st. This compares to a 112 BCF withdrawal at this time last year and a five-year average withdrawal amount of 121 BCF.
This morning in Globex, WTI Crude was up 70 cents; Natural Gas was down 19 cents; Heating Oil was up one cent; and Gasoline was up one cent.
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