Thursday, December 17th saw the front-month NYMEX Natural Gas Futures Contract open at $2.682, nearly a penny above closing price $2.677. Trading along $2.685 through 10:00AM, the contract rose to an intraday high of $2.709 ahead of the weekly storage release. Tumbling downward as the publication hit the wire, prices fell to an intraday low of $2.606 at 11:00AM. Recovering into the afternoon, January closed lower on Thursday at $2.636.
The EIA Natural Gas Storage Report published on Thursday showed a 122 BCF withdrawal from storage for the week ended December 11th – in line with the market estimate of 125 BCF. Total working gas in storage was reported as 3,726 BCF: 8.3% above this time last year and 7.0% above the five-year average.
As of 6:50AM EST this morning in Globex, WTI Crude was down six cents; Natural Gas was up four cents; Heating Oil was down slightly; and Gasoline was down one cent cent.
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