December 6, 2021
Friday, December 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $4.172, twelve cents above Thursday’s closing price of $4.056. Slipping to an intraday low of $4.113 at 9:20AM, prices rose steadily throughout the day as some cold crept into the forecasts. Reaching an intraday high of $4.253 at 1:20PM, January closed higher on Friday at $4.132; down 24% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 59 BCF withdrawal from storage for the week ended November 26th–in line with the market estimate of 58 BCF. Total working gas in storage was reported as 3,564 BCF; 9.5% below this time last year and 2.3% below the five-year average.
As of 6:20AM EST this morning in Globex, WTI Crude was up $1.85; Natural Gas was down 30 cents; Heating Oil was up four cents; and Gasoline was up four cents.
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