March NYMEX Natural Gas Futures Contract Closed at $3.959 on Thursday, February 10th

Thursday, February 10th saw the front-month NYMEX Natural Gas Futures Contract open at of $3.938, seven cents below Wednesday’s closing price of $4.009. Trading within a two-cent range of $3.920 through 10:30AM, prices then fell to an intraday low of $3.882 as the weekly storage report hit the wire. Initiating a steady ascent from there, the contract rose into the afternoon to record an intraday high of $4.001 at 2:15PM. March closed lower on Thursday at $3.959; down 19% since last Thursday

The EIA Natural Gas Storage Report published on Thursday showed a 222 BCF withdrawal from storage for the week ended February 4 – above the market estimate of 211 BCF. Total working gas in storage was reported as 2,101 BCF; 17.3% below this time last year and 9.3% below the five-year average.

As of 6:20AM EST this morning in Globex, WTI Crude was 83 cents; Natural Gas was up four cents; Heating Oil was up two cents; and Gasoline was up one cent.
 
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