Thursday, December 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.427, three cents above Wednesday’s closing price of $2.399. Trading within two cents of $2.415 through the session’s opening hour, prices then fell to an intraday low of $2.405 ahead of the 10:30AM storage publication. Mounting a steep ascent above $2.460 following the report’s release, the contract tallied an intraday high of $2.463 by 11:00AM. Straddling $2.440 into the afternoon, January closed higher on Thursday at $2.427.
The EIA Natural Gas Storage Report published on Thursday showed a 19 BCF withdrawal from storage for the week ended November 29th – on par with the market estimate of 20 BCF. Total working gas in storage was reported as 3,591 BCF: 19.7% above this time last year and 0.3% below the five-year average.
As of 8:45AM EST this morning in Globex, WTI Crude was down 57 cents; Natural Gas was down four cents; Heating Oil was down one cent; and Gasoline was down slightly.
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