Wednesday, December 18th saw the front-month NYMEX Natural Gas Futures Contract open at $2.279, four cents below Tuesday’s closing price of $2.319. Skidding throughout the opening hour to mark the intraday low of $2.257, prices spent the balance of the morning climbing back to the $2.28 level. Reaching up to an intraday high of $2.297 at 1:50PM, January closed lower on Wednesday at $2.286, as fundamentals remain largely unchanged.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 98 BCF withdrawal from storage for the week ended December 13th. This compares to a 141 BCF withdrawal at this time last year and a five-year average withdrawal amount of 112 BCF.
As of 8:50AM EST this morning in Globex, WTI Crude was unchanged; Natural Gas was down four cents; Heating Oil was up slightly; and Gasoline was up one cent.
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