March NYMEX Natural Gas Futures Contract Closed at $3.159 on Wednesday, February 11th

Wednesday, February 11th saw the front-month NYMEX Natural Gas contract open at $3.091, $0.024 below Tuesday’s closing price $3.115. Recording the intraday low of $3.082 within minutes of the open, prices trended higher throughout the morning as a new possible cold front entered the radar and LNG demand remained strong. Recording the intraday high of $3.202 at 12:20PM, the contract traded sideways into the afternoon. March closed higher on Wednesday at $3.159.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 252 BCF withdrawal from storage for the week ended February 6. This compares to a 100 BCF withdrawal this time last year and a five-year average withdrawal amount of 146 BCF.

As of 7:12AM this morning in Globex, WTI Crude was down $0.030; Natural Gas was up $0.077 Heating Oil was down $0.024; and Gasoline was down $0.018.

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