January NYMEX Natural Gas Futures Contract Closed at $2.294 on Thursday, December 26th

Thursday, December 26th saw the front-month NYMEX Natural Gas Futures Contract open at $2.255, eight cents above Tuesday’s closing price of $2.172. Prices quickly reached their intraday low of $2.244 at 9:30AM, and remained stable until late morning. Prices bounced upwards at 11:00AM, rising to an intraday high of $2.297 at 2:20PM. January prices then dipped slightly, finishing at $2.294.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 119 BCF withdrawal from storage for the week ended December 20th. This compares to a 48 BCF withdrawal at this time last year and a five-year average withdrawal amount of 114 BCF

As of 8:50AM EST this morning in Globex, WTI Crude was up eight cents; Natural Gas was down eight cents; Heating Oil was up one cent; and Gasoline was up one cent.

Natural Gas Glossary
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This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.