December 31, 2021
Thursday, December 30th – saw the front-month NYMEX Natural Gas Futures Contract open at of $3.754, almost thirty cents below Wednesday’s closing price of $4.055. February’s contract price would fall throughout the day, with periods of consolidation between the quick drops. Prices hit their intraday high of $3.776 just before the 10:00AM release of the storage report. The contract closed out the day at its intraday low of $3.561.
The EIA Natural Gas Storage Report published on Thursday showed a 136 BCF withdrawal from storage for the week ended December 24 – above the market estimate of 125 BCF. Total working gas in storage was reported as 3,226 BCF; 7.2% below this time last year and 0.6% above the five-year average.
As of 10:00AM EST this morning in Globex, WTI Crude was down $.87; Natural Gas was up nine cents; Heating Oil was down two cents; and Gasoline was down two cents.
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