February NYMEX Natural Gas Futures Contracts Closed at $3.084 on Thursday, January 11th

Thursday, January 11th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.977, seven cents above Wednesday’s closing price of $2.906.  The contract inched upward to exceed the $3.00 mark ahead of the weekly storage publication. The record-breaking withdrawal figure sent prices skyward for the balance of the day.  Reaching the intraday high of $3.097 at 3:20PM, February proceeded to close nearly 18 cents higher on Thursday at $3.084.

The EIA Natural Gas Storage Report published on Thursday showed a 359 BCF withdrawal from storage for the week ended January 5th – above the market estimate of 326 BCF.  Total working gas in storage was reported as 2,767 BCF; 13% below this time last year and 12% below the five-year average.

This morning in Globex, WTI Crude was down 60 cents; Natural Gas was up eight cents; Heating Oil down one cent; and, Gasoline was down one cent.
Natural Gas Glossary
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