January 30, 2020
Wednesday, January 29
th – settlement day for the February Contract – saw the front-month NYMEX Natural Gas Futures Contract open at $1.895, four cents below Tuesday’s closing price of $1.934. In a light day of trading, the February contract traded along either side of $1.895 for the majority of the day. Touching an intraday high of $1.905 at 12:40PM, prices then fell to a fresh multi-year intraday low of $1.858 as February settled lower on Wednesday at $1.877. The more actively traded March contract recorded an intraday high of $1.883 soon after the markets opened, prices then fell to an intraday low of $1.858 at 9:50AM. Trading within two cents of $1.870 for the balance of the session, March closed lower at $1.865.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 205 BCF withdrawal from storage for the week ended January 24
th. This compares to a 173 BCF withdrawal at this time last year and a five-year average withdrawal amount of 143 BCF.
As of 8:40AM EST this morning in Globex, WTI Crude was down 96 cents; Natural Gas was down three cents; Heating Oil was down four cents; and Gasoline was down four cents.
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