January NYMEX Natural Gas Futures Contract Closed at $2.294 on Thursday, December 26th

Thursday, December 26th saw the front-month NYMEX Natural Gas Futures Contract open at $2.255, eight cents above Tuesday’s closing price of $2.172. Prices quickly reached their intraday low of $2.244 at 9:30AM, and remained stable until late morning. Prices bounced upwards at 11:00AM, rising to an intraday high of $2.297 at 2:20PM. January prices then dipped slightly, finishing at $2.294.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 119 BCF withdrawal from storage for the week ended December 20th. This compares to a 48 BCF withdrawal at this time last year and a five-year average withdrawal amount of 114 BCF

As of 8:50AM EST this morning in Globex, WTI Crude was up eight cents; Natural Gas was down eight cents; Heating Oil was up one cent; and Gasoline was up one cent.

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