Tuesday, December 14th saw the front-month NYMEX Natural Gas Futures Contract open at $3.746, five cents below Monday’s closing price of $3.794. Peaking at an intraday high of $3.803 by 9:15AM, prices withdrew to trade along the $3.720 mark for the majority of the day as warmer temperatures continue to keep a lid on prices. Touching down to an intraday low of $3.690 at 12:20PM, January closed lower on Tuesday at $3.747.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 65 BCF withdrawal from storage for the week ended December 10th. This compares to a 122 BCF withdrawal at this time last year and a five-year average withdrawal amount of 114 BCF.
As of 7:15AM EST this morning in Globex, WTI Crude was down 87 cents; Natural Gas was up eight cents; Heating Oil was down two cents; and Gasoline was down two cents.
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.
