December 12, 2019
Wednesday, December 11
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.284, two cents above Tuesday’s closing price of $2.264. Ascending to an intraday high of $2.303 by 9:50AM, prices then began a steady descent that persisted through the balance of the trading session. Crossing midday near $2.260, the contract bottomed out at an intraday low of $2.240 just ahead of 2:30PM. The January contract closed lower on Wednesday at $2.243.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 76 BCF withdrawal from storage for the week ended December 6
th. This compares to a 77 BCF withdrawal at this time last year and a five-year average withdrawal amount of 68 BCF.
As of 8:50AM EST this morning in Globex, WTI Crude was up 15 cents; Natural Gas was up four cents; Heating Oil was up one cent; and Gasoline was up one cent.
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