December 23, 2021
Wednesday, December 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $4.025, nearly sixteen cents above Tuesday’s closing price of $3.869. Picking up ground overnight as updated forecasts are calling for frigid temps in early January, the contract traded within a tight band near $3.990 for most of the day. Reaching an intraday high of $4.041 at 11:50AM, prices then fell to an intraday low of $3.961 ahead of 2:30PM. January closed higher on Wednesday at $3.976.
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 7:35AM EST this morning in Globex, WTI Crude was up 16 cents; Natural Gas was down 18 cents; Heating Oil was up one cent; and Gasoline was up three cents.
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