January NYMEX Natural Gas Futures Contract Closed at $6.245 on Friday, December 9th

Friday, December 9th saw the January NYMEX Natural Gas Futures Contract open at $6.187, nearly twenty-three cents above Thursday’s closing price of $5.962. Making gains early on as traders continue to brace for late-month heating demand, prices rose to an intraday high of $6.391 by 10:45AM. Retreating soon thereafter, marking an intraday low of $6.060 at 1:15PM, January closed higher on Friday at $6.245; down less than 1% on the week.

The EIA Natural Gas Storage Report published last Thursday showed a 21 BCF withdrawal from storage for the week ended December 2 – in line with the market estimate of 20 BCF. Total working gas in storage was reported as 3,462 BCF; 1.5% below this time last year and 1.6% below the five-year average.

As of 7:15AM EST this morning in Globex, WTI Crude was down 53 cents; Natural Gas was up 65 cents; Heating Oil was up one cent; and Gasoline was down two cents
                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
 

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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.

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