December 10, 2020
Wednesday, December 9
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.501, ten cents above Tuesday’s closing price $2.399. Recording an intraday high of $2.508 at 9:20AM, prices trended lower throughout the day as market fundamentals remain stagnant. Falling to an intraday low of $2.434 at 2:20PM, the January contract closed higher on Wednesday at $2.442.
The EIA Natural Gas Storage Report is due out today at 10:30AM. The report is expected to show an 80 BCF withdrawal from storage for the week ended December 4
th. This compares to a 73 BCF withdrawal at this time last year and a five-year average injection amount of 61 BCF.
As of 6:45AM EST this morning in Globex, WTI Crude was up 66 cents; Natural Gas was up one cent; Heating Oil was up two cents; and Gasoline was up three cents.
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