February NYMEX Natural Gas Futures Contract Closed at $2.130 on Friday, January 3rd

Friday, January 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.140, two cents above Thursday’s closing price of $2.122.  Falling to an intraday low of $2.115 by 9:10AM, prices traded along the $2.13 level until the weekly storage publication at 10:30AM.  Gaining momentum shortly after the report hit the wire, the contract rose to an intraday high of $2.163 by 11:10AM.  Trending lower into the afternoon, February closed higher on Friday at $2.130.

The EIA Natural Gas Storage Report published on Friday showed a 58 BCF withdrawal from storage for the week ended December 27th – just below the market estimate of 61 BCF. Total working gas in storage was reported as 3,192 BCF: 17.9% above this time last year and 1.2% below the five-year average.

As of 8:55AM EST this morning in Globex, WTI Crude was up 77 cents; Natural Gas was up two cents; Heating Oil was unchanged; and Gasoline up two cents. 

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