February 18, 2022
Thursday, February 17
th saw the front-month NYMEX Natural Gas Futures Contract open at of $4.666, five cents below Wednesday’s closing price of $4.717. Tallying the intraday high of $4.684 at 9:45AM, prices hovered near $4.650 leading up to the weekly storage publication. Losing ground shortly after 10:30AM. Crossing midday near $4.520, the contract fell to an intraday low of $4.402 at 1:00PM. March closed lower on Thursday at $4.486.
The EIA Natural Gas Storage Report published on Thursday showed a 190 BCF withdrawal from storage for the week ended February 11 – in line with the market estimate of 195 BCF. Total working gas in storage was reported as 1,911 BCF; 17.5% below this time last year and 11.6% below the five-year average.
As of 7:10AM EST this morning in Globex, WTI Crude was down $1.86; Natural Gas was down three cents; Heating Oil was down five cents; and Gasoline was down five cents.
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