February 14, 2020
Thursday, February 13
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.861, two cents above Wednesday’s closing price of $1.844. Trending lower through the day’s opening ninety minutes, the weekly storage report drove prices to a momentary intraday high of $1.869 at 10:30AM. Falling to the $1.800 level nearly an hour later, short-term frigid forecasts have provided support this week, coming off last week’s multi-year low. Recording an intraday low of $1.823 ahead of 2:30PM, March closed lower on Thursday at $1.826.
The EIA Natural Gas Storage Report published on Thursday showed a 115 BCF withdrawal from storage for the week ended January 31
st – above the market estimate of 110 BCF. Total working gas in storage was reported as 2,494 BCF: 31.7% above this time last year and 9.4% above the five-year average.
As of 8:50AM EST this morning in Globex, WTI Crude was up 51 cents; Natural Gas was up one cent; Heating Oil was unchanged; and Gasoline was up slightly.
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