Friday, February 12th saw the front-month NYMEX Natural Gas Futures Contract open at $2.918, five cents above Thursday’s closing price of $2.868. Trending lower until finding the intraday low of $2.859 at 11:00AM, prices rose into the afternoon as below average temperatures persist across much of the country. Climbing to an intraday high of $2.987 at 1:40PM, March closed higher on Friday at $2.912.
The EIA Natural Gas Storage Report published on Thursday showed a 171 BCF withdrawal from storage for the week ended February 5th – below the market estimate expectation of 184 BCF. Total working gas in storage was reported as 2,518 BCF; 0.4% above this time last year and 6.4% above the five-year average.
As of 7:45AM EST this morning in Globex, WTI Crude was up 22 cents; Natural Gas was up 18 cents; Heating Oil was up four cents; and Gasoline was up seven cents.
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