December 13, 2023
Tuesday, December 12
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.379, five cents below Monday’s closing price of $2.431. Seeking direction throughout the morning as bearish sentiment continues to apply pressure, prices rose to tally an intraday high of $2.395 multiple times heading into midday. Posting a steady decline after crossing midday, the contract marked the intraday low of $2.299 ahead of 2:30PM. January closed lower on Tuesday at $2.311.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 51 BCF withdrawal from storage for the week ended December 8
th. This compares to a 50 BCF withdrawal at this time last year and a five-year average withdrawal amount of 81 BCF.
As of 6:15AM EST this morning in Globex, WTI Crude was up ten cents; Natural Gas was down one cent; Heating Oil was up two cents; and Gasoline was flat.
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