December 18, 2023
Friday, December 15
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.444, five cents above Thursday’s closing price of $2.392. Recording the intraday low of $2.417 by 9:15AM, a slightly bullish shift to forecasts overnight then directed prices higher. Crossing midday at $2.471, the contract rose to the intraday high of $2.544 at 1:25PM. January closed higher on Friday at $2.491.
The EIA Natural Gas Storage Report published on Thursday showed a 55 BCF withdrawal from storage for the week ended December 8 – within range of the market estimate 60 BCF. Total working gas in storage was reported as 3,664 BCF; 7.2% above this time last year and 7.6% above the five-year average.
As of 6:45AM EST this morning in Globex, WTI Crude was up 47 cents; Natural Gas was up eight cents; Heating Oil was up four cents; and Gasoline was up slightly.
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