Wednesday, December 5th saw the front-month NYMEX Natural Gas Futures Contracts open at $4.547, nine cents above Tuesday’s closing price of $4.457. Tallying the intraday high of $4.557 within minutes of opening, following an overnight run up, prices scaled lower throughout the morning to cross midday near $4.475. Reaching the intraday low of $4.404 forty minutes later, the contract then rose to finish the day higher at $4.469.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 57 BCF withdrawal from storage for the week ended November 30th. This compares to a 2 BCF injection at this time last year and a five-year average withdrawal amount of 58 BCF.
This morning in Globex, WTI Crude was down $1.71; Natural Gas was down eight cents; Heating Oil was down three cents; and Gasoline was down four cents.
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