February NYMEX Natural Gas Futures Contract Closed at $2.122 on Thursday, January 2nd

Thursday, January 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.169, two cents below Tuesday’s closing price of $2.189.  Tallying an intraday high of $2.170 as markets opened, prices fell to the $2.12 mark by 11:00AM as steady production and unseasonal temperatures persist.  Flirting with five-month lows, the contract fell to an intraday low of $2.116 at 1:40PM.  February closed lower on Thursday at $2.122.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 61 BCF withdrawal from storage for the week ended December 27th. This compares to a 20 BCF withdrawal at this time last year and a five-year average withdrawal amount of 89 BCF.

As of 8:40AM EST this morning in Globex, WTI Crude was up $2.17; Natural Gas was up one cent; Heating Oil was up six cents; and Gasoline up five cents. 

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