February NYMEX Natural Gas Futures Contract Closed at $2.491 on Thursday, January 21st

Thursday, January 21st saw the front-month NYMEX Natural Gas Futures Contract open at $2.482, six cents below Wednesday’s closing price of $2.539.  Reaching an intraday high of $2.515 at 9:45AM, the contract traded along either side of $2.485 throughout the session.  Prices fell to an intraday low of $2.458 at 2:00PM, as the latest weather forecasts remain unsupportive.  February closed lower on Thursday at $2.491.

The EIA Natural Gas Storage Report is due out today at 10:30AM. The report is expected to show a 191 BCF withdrawal from storage for the week ended January 15th. This compares to a 92 BCF withdrawal at this time last year and a five-year average withdrawal amount of 167 BCF.

As of 7:10AM EST this morning in Globex, WTI Crude was down $1.35; Natural Gas was down five cents; Heating Oil was down four cents; and Gasoline was down three cents.

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