Wednesday, December 11th saw the front-month NYMEX Natural Gas Futures Contract open at $2.284, two cents above Tuesday’s closing price of $2.264. Ascending to an intraday high of $2.303 by 9:50AM, prices then began a steady descent that persisted through the balance of the trading session. Crossing midday near $2.260, the contract bottomed out at an intraday low of $2.240 just ahead of 2:30PM. The January contract closed lower on Wednesday at $2.243.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 76 BCF withdrawal from storage for the week ended December 6th. This compares to a 77 BCF withdrawal at this time last year and a five-year average withdrawal amount of 68 BCF.
As of 8:50AM EST this morning in Globex, WTI Crude was up 15 cents; Natural Gas was up four cents; Heating Oil was up one cent; and Gasoline was up one cent.
Natural Gas Glossary
Natural Gas Supplier
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.
