January 15, 2021
Thursday, January 14
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.736, a penny above Wednesday’s closing price of $2.727. Ascending to $2.760 ahead of 10:00AM, prices jumped to an intraday high of $2.791 as the weekly storage publication was released. Breaking down into the afternoon to trade near $2.690, the contract fell to an intraday low of $2.662 at 2:20PM. February closed lower on Thursday at $2.666.
The EIA Natural Gas Storage Report published on Thursday showed a 134 BCF withdrawal from storage for the week ended January 8
th – in line with market estimate expectations. Total working gas in storage was reported as 3,196 BCF; 4.1% above this time last year and 7.3% above the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was down 68 cents; Natural Gas was up nine cents; Heating Oil was down two cents; and Gasoline was down one cent.
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