January NYMEX Natural Gas Futures Contract Closed at $2.243 on Wednesday, December 11th

Wednesday, December 11th saw the front-month NYMEX Natural Gas Futures Contract open at $2.284, two cents above Tuesday’s closing price of $2.264.  Ascending to an intraday high of $2.303 by 9:50AM, prices then began a steady descent that persisted through the balance of the trading session.  Crossing midday near $2.260, the contract bottomed out at an intraday low of $2.240 just ahead of 2:30PM.  The January contract closed lower on Wednesday at $2.243.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 76 BCF withdrawal from storage for the week ended December 6th. This compares to a 77 BCF withdrawal at this time last year and a five-year average withdrawal amount of 68 BCF.

As of 8:50AM EST this morning in Globex, WTI Crude was up 15 cents; Natural Gas was up four cents; Heating Oil was up one cent; and Gasoline was up one cent. 

Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.