December 22, 2021
Tuesday, December 21st saw the front-month NYMEX Natural Gas Futures Contract open at $3.858, two cents above Monday’s closing price of $3.834. Marking the intraday low of $3.818 out of the gate, the contract mounted a steady ascent to peak at $3.947 at midday. Trading within a ten-cent range in the afternoon hours, traders are waiting for direction from the latest forecasts. January closed higher on Tuesday at $3.869.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 53 BCF withdrawal from storage for the week ended December 17th. This compares to a 147 BCF withdrawal at this time last year and a five-year average withdrawal amount of 153 BCF.
As of 6:50AM EST this morning in Globex, WTI Crude was up 24 cents; Natural Gas was up five cents; Heating Oil was unchanged; and Gasoline was unchanged.
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