December 2, 2022
Thursday, December 1
st saw the January NYMEX Natural Gas Futures Contract open at $7.104, seventeen above below Wednesday’s closing price of $6.930. Marking the intraday high of $7.213 by 9:15AM, prices trended lower to reach the $7.030 mark ahead of the weekly storage report. Sinking further as the report hit the wire, the contract fell to cross midday at $6.804 and marked an intraday low of $6.708 at 2:15PM. January closed lower on Thursday at $6.738.
The EIA Natural Gas Storage Report published on Thursday showed an 81 BCF withdrawal from storage for the week ended November 25 – below the market estimate of 86 BCF. Total working gas in storage was reported as 3,483 BCF; 2.5% below this time last year and 2.4% below the five-year average.
As of 6:55AM EST this morning in Globex, WTI Crude was up eight cents; Natural Gas was down seven cents; Heating Oil was up three cents; and Gasoline was flat.
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