December 13, 2021
Friday, December 10th saw the front-month NYMEX Natural Gas Futures Contract open at $3.870, six cents above Thursday’s closing price of $3.814. Trading sideways along $3.860 throughout the morning, prices were then directed higher ahead of midday as a whisper of colder temperatures arriving toward the end of the month entered the forecast. Peaking at an intraday high of $3.965 at 12:50PM, January closed higher on Friday at $3.925, down 5% on the week.
The EIA Natural Gas Storage Report published on Thursday showed a 59 BCF withdrawal from storage for the week ended December 3rd–greater than the market estimate of 48 BCF. Total working gas in storage was reported as 3,505 BCF; 9.2% below this time last year and 2.5% below the five-year average.
As of 7:20AM EST this morning in Globex, WTI Crude was down 53 cents; Natural Gas was up seven cents; Heating Oil was down slightly; and Gasoline was down slightly.
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