December 14, 2023
Wednesday, December 13
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.321, a penny above Tuesday’s closing price of $2.311. With the latest forecasts calling for continued bearish weather and production holding steady, prices fell to the intraday low of $2.285 at 9:25AM. Tallying the intraday high of $2.385 just ahead of midday, the contract traded along the $2.350 level throughout the afternoon. January closed higher on Wednesday at $2.335.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 60 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 6:20AM EST this morning in Globex, WTI Crude was up $1.27; Natural Gas was up two cents; Heating Oil was up four cents; and Gasoline was up four cents.
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