Wednesday, December 15th saw the front-month NYMEX Natural Gas Futures Contract open at $3.871, thirteen cents above Tuesday’s closing price of $3.747. Trading within a four-cent range of $3.880 throughout the morning as traders keep their fingers crossed for some late month frigid temperatures, prices rose to an intraday high of $3.922 just ahead of 11:30AM. Sinking to an intraday low of $3.782 at 1:30PM, January closed higher on Wednesday at $3.802.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 65 BCF withdrawal from storage for the week ended December 10th. This compares to a 122 BCF withdrawal at this time last year and a five-year average withdrawal amount of 114 BCF.
As of 6:30AM EST this morning in Globex, WTI Crude was up $1.10; Natural Gas was up 12 cents; Heating Oil was up three cents; and Gasoline was up three cents.
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